METALS-Copper near one-month lows on global growth outlook
SINGAPORE, June 11 (Reuters) - London copper edged higher on Tuesday, but was holding around one-month lows as a pick-up in the U.S. economy rekindled worries the Fed may taper its economic stimulus, despite a backdrop of sluggish global growth.
* Three-month copper on the London Metal Exchange edged up 0.22 percent to $7,177.75 a tonne by 0105 GMT, following a near-one percent fall the previous session.
* Copper hit its lowest since May 16 on Monday at $7,126.50 a tonne.
* The Shanghai Futures Exchange is shut until June 13 for a holiday.
* Standard & Poor's on Monday removed the near-term threat of another credit rating downgrade for the United States by revising its outlook to stable from negative, citing an improved economic and fiscal outlook.
* The major developed economies are gradually gaining momentum, led by faster growth in Japan and the United States, the OECD said on Monday.
* Indonesia's only copper smelter, PT Smelting, has taken just one shipment from Freeport Indonesia after last month's accident that killed 28 workers, the company's chief executive said, and is in talks with other suppliers.
* India's top copper smelter can reopen as scheduled and operate until at least the second week of July, when an expert panel will submit a report on the safety and environmental aspects of its operations, a Supreme Court judge said.
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* Asian shares and the dollar steadied on Tuesday, after Standard & Poor's removed the near-term threat of another credit rating downgrade for the United States, just as data last week pointed to no imminent shift in the Federal Reserve's huge monetary stimulus.
DATA/EVENTS (GMT) UK April Industrial, Manufacturing Output UK at 0830 GMT Goldman Sachs Chain store sales at 1145 GMT US Wholesale Inventories for April at 1400 GMT
PRICES Base metals prices at 0105 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7177.75 15.75 +0.22 -9.50 SHFE CU FUT OCT3 -- - -- -- HG COPPER JUL3 3.24 0.00 +0.03 -11.24 LME Alum 1928.00 5.00 +0.26 -6.99 SHFE AL FUT SEP3 -- - -- -- LME Zinc 1888.00 -1.00 -0.05 -9.23 SHFE ZN FUT SEP3 -- - -- -- LME Nickel 14900.00 5.00 +0.03 -12.66 LME Lead 2158.00 -5.00 -0.23 -7.38 SHFE PB FUT -- - -- -- LME Tin 20741.00 -159.00 -0.76 -11.36 LME/Shanghai arb^ ---
(Reporting by Melanie Burton; Editing by Richard Pullin)