METALS-LME copper near 2013 high on brightening global outlook
SINGAPORE, Jan 31 (Reuters) - London copper held near its 2013 peak on Thursday as investors focused on a revival in U.S. consumer spending and a recovery in Europe's banks as evidence of a strengthening global economic recovery.
* Three-month copper on the London Metal Exchange eased 0.08 percent to $8,219.50 a tonne by 0125 GMT, little changed from the previous session when it hit its highest in almost one month.
* Copper on Wednesday climbed to its loftiest since Jan. 3 at $8,245, drawing close to the early January top of $8,256.50. A break of this level would mark the highest copper has been since Oct. 18.
* The most-traded May copper contract on the Shanghai Futures Exchange rallied 0.56 percent to 59,550 yuan ($9,600) a tonne. It earlier hit its highest since Oct. 12 at 59,670 a tonne.
* The Federal Reserve on Wednesday left in place its monthly $85 billion bond-buying stimulus plan, arguing the support was needed to lower unemployment even as it indicated a recent stall in U.S. economic growth was likely temporary.
* The U.S. economy unexpectedly contracted in the fourth quarter, but analysts said there was no reason for panic given that consumer spending and business investment picked up.
* Japan's December factory output rose at the fastest pace in a year and a half and firms expect further gains, raising hopes that stabilising global demand and exports will help pull the economy from its slump.
* Rio Tinto Plc said its Oyu Tolgoi project in Mongolia is on track to reach commercial production in the first half of 2013, countering a media report saying the company was considering a temporary halt to construction work because of political issues.
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* Asian shares pulled back from recent rallies on Thursday but optimism about global growth supported sentiment as the Federal Reserve kept its stimulus policy, while the euro steadied on signs the region was stabilising from the debt crisis.
* The euro held near a 14-month peak against the dollar and a 2-1/2 year high versus the yen on Thursday, having risen solidly as investors expect central banks in both the United States and Japan to keep an aggressive easing stance.
DATA/EVENTS (GMT) 0500 Japan Construction orders 0500 Japan Housing starts 0700 Germany Retail sales 0745 France Producer prices 0855 Germany Unemployment rate 1300 Germany Preliminary CPI 1330 U.S. Weekly jobless claims 1330 U.S. Personal income 1445 U.S. Chicago PMI
Base metals prices at 0125 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 8219.50 -6.50 -0.08 3.66 SHFE CU FUT MAY3 59550 330 +0.56 3.24 HG COPPER MAR3 374.15 -0.85 -0.23 2.44 LME Alum 2096.25 -7.75 -0.37 1.22 SHFE AL FUT APR3 15240 40 +0.26 -0.68 LME Zinc 2149.00 -6.00 -0.28 4.14 SHFE ZN FUT MAY3 16030 485 +3.12 3.12 LME Nickel 18305.00 -70.00 -0.38 6.70 LME Lead 2438.25 -0.75 -0.03 4.20 SHFE PB FUT 15555.00 65.00 +0.42 2.00 LME Tin 24900.00 0.00 +0.00 6.41 LME/Shanghai arb^ 480
Shanghai and COMEX contracts show most active months ($1 = 6.2204 Chinese yuan)
(Reporting by Melanie Burton; Editing by Tom Hogue)