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METALS-Copper retreats as firmer dollar offsets supply worries

HANOI, May 27 (Reuters) - Copper prices fell on Thursday as a stronger dollar made greenback-priced metals more expensive to holders of other currencies and offset the support from supply threats in Chile.

Three-month copper on the London Metal Exchange fell 0.5% to $9,930.50 a tonne by 0204 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange declined 0.6% to 71,450 yuan ($11,177.69) a tonne.

The dollar found support from emerging views the Federal Reserve is slowly but surely edging towards a discussion about tightening monetary policy, and as traders await crucial U.S. inflation data this week.

However, prices of the red metal were supported by supply threat in top producer Chile, where miner BHP Group Ltd has said it would take contingency measures after a labour union at its Escondida and Spence mines called for a strike.

FUNDAMENTALS

* LME nickel declined 0.6% to $17,180 a tonne, lead was down 0.4% to $2,169 a tonne, while ShFE aluminium edged up 0.2% to 18,330 yuan a tonne and ShFE tin climbed 0.9% to 198,520 yuan a tonne.

* An earthquake in Goma, a city in the Democratic Republic of Congo near the border with Rwanda, is delaying exports of tin ore from mineral-rich North Kivu province, sources told Reuters.

* China’s banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers to curb investment losses amid volatile commodity prices, sources said.

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MARKETS NEWS

* Asian shares retreated from two-week highs and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top.

DATA/EVENTS (GMT)

1230 US Durable Goods April

1230 US GDP 2nd Estimate Q1

1230 US Initial Jobless Claim weekly

$1 = 6.3922 yuan Reporting by Mai Nguyen; Editing by Ramakrishnan M.

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