MELBOURNE, Aug 30 (Reuters) - London copper was treading water a whisker from its highest level in three years on Wednesday as a dollar rebound slowed a rally in prices based on China’s robust housing and manufacturing growth.
* LME COPPER: London Metal Exchange copper slipped by 0.1 percent to $6,786 a tonne by 0114 GMT, largely holding 1.9 percent gains from the previous session when prices hit $6,843.50 a tonne, the highest since September 2014.
* SHFE COPPER: Shanghai Futures Exchange copper was trading close to its highest since Feb 2013, at 52,590 yuan ($7,975) a tonne, having edged down 0.2 percent.
* COPPER OUTLOOK: “I’m a little skeptical (of copper prices) in the short-term,” the chairman of Chilean state-owned copper company Codelco said on Tuesday. “It’s true that all of the fundamentals are good in the medium- and long-term ... but I would be very cautious.”
* ALUMINIUM: LME aluminium stocks have climbed by around 40,000 tonnes since mid-month, as traders deliver metal rather than hold it given a blow-out in spreads. The premium to roll aluminium for a day, seen in Tomorrow-Next Day (Tom-Next) spreads, surged to $10 for four of the past five sessions. CMALT-0 The premium for cash against three months prices however has sharply fallen from $11 to a $10 discount, suggesting large inflows may be on their way.
* CHINA ECONOMY: China can meet its 2017 economic growth targets but may struggle to meet its investment and foreign investment goals, the country’s state planning head told parliament on Tuesday, according to the official Xinhua News Agency.
* CHINA FACTORIES: China’s factories likely posted another solid month of growth in August, suggesting the world’s second-largest economy is still growing at a healthy clip despite rising financing costs and a cooling housing market, a Reuters poll showed.
* U.S. ECONOMY: U.S consumer confidence surged to a five-month high in August as households grew increasingly upbeat about the labour market while house prices rose further in June, suggesting a recent acceleration in consumer spending was likely to be sustained.
* USD: The dollar fell to its lowest in more than 2-1/2 years against a basket of major currencies on Tuesday after a North Korea missile launch over Japan prompted repatriation flows into the yen and added to worries about U.S. politics.
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* The dollar rebounded from a 2-1/2-year low on Wednesday as concerns about North Korea’s firing of a missile over Japan ebbed, but Asian stocks were muted despite Wall Street’s higher close.
0900 Euro zone Business climate Aug
1200 Germany Consumer prices Aug
1215 U.S. ADP national employment Aug
1230 U.S. GDP 2nd estimate Q2
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 = 6.5945 Chinese yuan renminbi)
Reporting by Melanie Burton; Editing by Richard Pullin