METALS-Copper inches up on solid factory data
SINGAPORE, Jan 25 (Reuters) - London copper inched higher on Friday after solid economic data from China and the United States boosted faith in a global recovery, but it was set to close the week little changed, with consumer buying slow ahead of the Lunar New Year holidays.
* Three-month copper on the London Metal Exchange had edged up 0.13 percent to $8,106 a tonne by 0106 GMT, after finishing the previous session almost unchanged.
* Copper has been caught in a band of $7,920-$8,250 a tonne so far this year, after an early January rally to 2-1/2 month highs fizzled out.
* The most-traded May copper contract on the Shanghai Futures Exchange climbed by 0.27 percent to 58,790 yuan ($9,500) a tonne. It earlier hit its highest since Oct. 22 at 58,820 yuan.
* Manufacturing in China and the U.S. grew this month at the fastest pace in about two years, while data suggesting German growth picked up boosted hopes for a swifter euro zone recovery.
* The number of new claims for jobless benefits In the U.S. dropped to a five-year low last week, also giving a surprisingly strong signal on the economy's pulse.
* Workers at the main units of Southern Copper Corp in Peru will try to negotiate a new wage plan with the miner for another 15 days and refrain from going on strike for now, union leader Ricardo Juarez said on Thursday.
* China's markets will be closed from Feb. 11 to Feb 15 for the Lunar New Year.
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* Asian shares were steady on Friday, while the yen hit fresh lows on expectations Japan will pursue bold policies to beat deflation and stimulate growth.
DATA/EVENTS (GMT) 0900 Germany Ifo business climate 0930 UK Preliminary Q4 GDP 1500 U.S. New home sales PRICES
Base metals prices at 0106 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 8106.00 10.50 +0.13 2.23 SHFE CU FUT MAY3 58790 160 +0.27 1.92 HG COPPER MAR3 368.60 0.95 +0.26 0.92 LME Alum 2074.75 -1.25 -0.06 0.18 SHFE AL FUT APR3 15225 -05 -0.03 -0.78 LME Zinc 2086.25 -2.75 -0.13 1.10 SHFE ZN FUT APR3 15590 45 +0.29 0.29 LME Nickel 17390.00 0.00 +0.00 1.37 LME Lead 2388.00 -15.00 -0.62 2.05 SHFE PB FUT 15400.00 70.00 +0.46 0.98 LME Tin 24625.00 0.00 +0.00 5.24 LME/Shanghai arb^ 351
Shanghai and COMEX contracts show most active months ($1 = 6.2181 Chinese yuan)
(Reporting by Melanie Burton; Editing by Joseph Radford)