October 30, 2017 / 2:25 AM / a year ago

METALS-London copper near 2-week low on firm dollar

    MELBOURNE, Oct 30 (Reuters) - London copper steadied on
Monday, not far from a two-week low hit in the previous session
on persistent headwinds from a stronger dollar.
    * LME COPPER: London Metal Exchange copper rose by
0.2 percent to $6,841.50 a tonne by 0138 GMT, finding its feet
after more than 2 percent losses in the previous session. Prices
on Friday sank to their lowest since Oct. 11 at $6,782.50. 
    * SHFE COPPER: Shanghai Futures Exchange copper was
down by 1.3 percent at 53,670 yuan ($8,077) a tonne.
    * DLR: The dollar hovered near three-month highs against a
currency basket on Monday, while the euro nursed losses after
the European Central Bank and unrest in Spain's Catalonia led it
to post its worst week this year. A stronger dollar makes metals
less affordable for buyers paying with other
    * COPPER DEMAND: China's plan to upgrade its industrial
sector with "smart" factories, green manufacturing and transport
is expected to increase annual copper demand by 232,000 tonnes
by 2025, an industry group said on Friday.
    * COPPER: Investors continued to file into copper. Hedge
funds and money managers raised their net long positions in
copper by 1,026 contracts to 108,739 contracts, a six-week high,
in the week to Oct. 24, U.S. Commodity Futures Trading
Commission (CFTC) data showed on Friday.
    * CHINA PROPERTY: As the froth comes off China's home
prices, there are increasing signs that some property
developers, particularly those with a heavy debt load, are
becoming less aggressive. Property and construction is a major
demand driver for metals. [nL4N1ML2VS
    * ALUMINIUM RESTARTS: Aluminium maker Norsk Hydro
may restart a mothballed Norwegian production line as global
metals markets tighten following a Chinese clampdown on
pollution, the company's chief executive told Reuters.

    * DUMPING: China said it was "strongly dissatisfied" with
the U.S. decision to impose anti-dumping duties ranging from 97
percent to 162 percent on Chinese aluminium foil, urging
Washington to correct its "mistaken methods". 
    * For the top stories in metals and other news, click       
    * Asian shares climbed on Monday and crude oil rose to a
2-year top, while the euro loitered around a 3-month low as the
European Central Bank's decision to extend its stimulus further
fattened the dollar's yield advantage.    
    * The following data is expected on Monday: (Time in GMT)
    * 1000  Euro Zone  Business Climate    Oct    
 BASE METALS PRICES               0135 gmt          
 Three month LME copper                         6841
 Most active ShFE copper                       53630
 Three month LME aluminium                    2175.5
 Most active ShFE                              16345
 Three month LME zinc                           3187
 Most active ShFE zinc                         25560
 Three month LME lead                         2442.5
 Most active ShFE lead                         18530
 Three month LME nickel                        11555
 Most active ShFE nickel                       93080
 Three month LME tin                               0
 Most active ShFE tin                         144370
 BASE METALS ARBITRAGE                              
 LME/SHFE COPPER            LMESHFCUc3        437.04
 LME/SHFE ALUMINIUM         LMESHFALc3        -447.4
 LME/SHFE ZINC              LMESHFZNc3         474.5
 LME/SHFE LEAD              LMESHFPBc3      -1002.89
 LME/SHFE NICKEL            LMESHFNIc3       2218.68

($1 = 6.6444 Chinese yuan)

 (Reporting by Melanie Burton; Editing by Subhranshu Sahu)
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