METALS-Copper falls from 10-day high; growth prospects weigh
SINGAPORE, July 2 (Reuters) - London copper retreated from 10-day highs on Tuesday as a slowdown in China weighed on demand growth prospects, giving up some of the previous sessions's sharp gains when dollar weakness sparked a short-covering rally.
* Three-month copper on the London Metal Exchange slipped by 0.66 percent to $6,933 a tonne by 0134 GMT, paring gains from the previous session when it climbed 3.4 percent to stage its biggest one-day rally in two months.
* Price feeds from the Shanghai Futures Exchange were unavailable.
* U.S. manufacturing staged a modest rebound in June even as hiring declined sharply but activity among China's large goods producers slowed to multi-month lows as global demand weakened.
* Chinese markets stabilised on Monday as investors spooked by last month's cash crunch took heart from a flurry of official reassurances that there is ample liquidity in the financial system.
* A unit of Glencore Xstrata plc entered into an agreement with Orbite Aluminae Inc to purchase smelter-grade alumina (SGA) from its proposed plant in Quebec.
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* Asian stocks rose on Tuesday with Tokyo's Nikkei extending gains after encouraging manufacturing data in Europe and the United States helped cheer a market fretting about a slowing Chinese economy.
* The U.S. dollar and yen were both on the back foot on Tuesday as a swathe of global industry data suggested an improvement in growth without being strong enough to risk any reduction in monetary stimulus from the Federal Reserve. 1/8USD/
DATA/EVENTS (GMT) 0430 Australia RBA cash rate 0900 Euro zone Producer prices 1145 U.S. ICSC weekly chain store sales 1345 U.S. ISM-New York index 1400 U.S. Factory orders 1400 U.S. IBD/TIPP consumer confidence 2030 U.S. API weekly crude stocks
Base metals prices at 0134 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6933.00 -46.00 -0.66 -12.58 SHFE CU FUT OCT3 -- -- -- -- HG COPPER SEP3 3.14 -0.01 -0.40 -13.91 LME Alum 1820.00 -7.50 -0.41 -12.20 SHFE AL FUT OCT3 -- -- -- -- LME Zinc 1880.00 -10.00 -0.53 -9.62 SHFE ZN FUT OCT3 -- -- -- -- LME Nickel 13913.00 -52.00 -0.37 -18.45 LME Lead 2083.00 -4.50 -0.22 -10.60 SHFE PB FUT -- -- -- -- LME Tin 19800.00 -170.00 -0.85 -15.38 LME/Shanghai arb^ 49710
Shanghai and COMEX contracts show most active months
(Reporting by Melanie Burton; Editing by Richard Pullin)