MELBOURNE, Sept 19 (Reuters) - London copper and zinc climbed on Tuesday on signs that a cooling property market in top consumer China was not derailing economic growth in the world’s top metals consumer.
* LME COPPER: Three-month copper on the London Metal Exchange was trading up 0.2 percent at $6,539 a tonne by 0142 GMT, extending a small advance from the session before. LME copper has been consolidating around $6,450-$6,550 a tonne since falling to a four-week trough of $6,453 a tonne last week.
* SHFE COPPER: Shanghai Futures Exchange copper was up 1 percent at 50,830 yuan ($7,734) a tonne.
* CHINA PROPERTY: China’s new home prices rose in August at the slowest pace in seven months and fell or levelled off in more cities as government cooling measures dampened speculation, though there were no signs of a sharper correction that could damage the economy.
* LME ZINC: London zinc extended 2.2-percent gains for the day before by another 0.7 percent, at one point touching its highest in more than a week at $3,123.50 a tonne.
* SHFE ZINC: Shanghai zinc was also up strongly, by 3.2 percent at 25,635 yuan a tonne, largely tracking gains in London.
* CHINA ZINC, NICKEL: Zinc and nickel prices have rallied on expectations that steel makers may be able to pay more for their raw materials, given industry consolidation that has curbed overcapacity and pushed up profits. Zinc is used to galvanise or rust-proof steel. Output will also be constrained over China’s winter after Beijing mandated a slew of curbs to industry as it looks to clear smoggy skies.
* ZINC SUPPLY: Zinc prices have also heated up given expectations that tighter mine supply will impede production of refined metal. China’s August zinc production fell 4.6 percent.
But several large mines have brought forward or raised production, including MMG Ltd’s Dugald River operations in Australia. Canada’s Teck Resources Ltd raised its Red Dog zinc production guidance for 2017 to a range of 525,000 to 550,000 tonnes, up from 475,000 to 500,000 tonnes.
* PERU ZINC: Peru raised its zinc production by 7 percent in July to 114,136 tonnes. Peru is also the biggest supplier of zinc ore to China, with exports up by nearly half on last year at just shy of 400,000 tonnes to July.
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* Asian shares wavered on Tuesday, bolstered by record highs on Wall Street but hobbled by uncertainty as traders waited on a Federal Reserve meeting for clues on U.S. monetary policy.
0800 Euro Zone Current account data Jul
0900 Germany ZEW economic sentiment index Sep
1230 U.S. Current account data Q2
1230 U.S. Import and export prices Aug
1230 U.S. Housing starts Aug
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.5725 Chinese yuan renminbi)
Reporting by Melanie Burton; Editing by Joseph Radford