METALS-Copper firms on weaker dollar, eyes 2nd weekly gain in 3
SINGAPORE, July 26 (Reuters) - London copper futures ticked higher on Friday due to a weaker dollar and were heading for their second weekly increase in three, but concerns over a dimming outlook for demand in top consumer China may cap gains.
* Three-month copper on the London Metal Exchange had inched up $6.25 to $7,016.25 a tonne by 0114 GMT. The contract is up 1.4 percent so far this week.
* Copper hit a one-month high of $7,119 on Wednesday as upbeat U.S. and European data helped counter weakness in the Chinese economy, where a preliminary reading this week showed manufacturing activity hitting an 11-month low.
* The most-traded November copper contract on the Shanghai Futures Exchange gained 0.1 percent to 50,460 yuan ($8,200) a tonne.
* A gauge of planned U.S. business spending on capital goods rose in June, buoying hopes of an acceleration in economic growth in the second half of 2013, even as new claims for jobless benefits edged higher last week.
* The European Central Bank may have to cut interest rates and launch a fresh round of unconventional monetary easing to help boost the euro zone economy, which is still weighed down by spending cuts, the IMF said.
* Japanese consumer prices rose in June at their highest annual pace in nearly five years in an early sign of an end to persistent deflation.
* China has ordered metal smelters to close outdated capacity by the end of September and dismantle it by the end of this year. The top global producer and consumer of metals has set yearly plans to close outdated capacity since 2009 as part of efforts to cut energy consumption and emissions. This year, the closing deadline is earlier, compared with the year-end in previous years. For the top stories in metals and other news, click , or
* The dollar languished at one-month lows against a basket of major currencies, having suffered a setback overnight after an increase in weekly U.S. jobless claims and shipments of core capital goods dropped.
0600 Germany Import prices 0645 France Consumer confidence
Base metals prices at 0114 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7016.25 6.25 +0.09 -11.60 SHFE CU FUT NOV3 50460 60 +0.12 -12.89 HG COPPER SEP3 3.19 0.00 -0.02 -12.80 LME Alum 1827.00 3.50 +0.19 -11.87 SHFE AL FUT NOV3 14360 -30 -0.21 -8.36 LME Zinc 1878.50 1.00 +0.05 -9.69 SHFE ZN FUT NOV3 14670 -15 -0.10 -8.63 LME Nickel 14177.00 2.00 +0.01 -16.90 LME Lead 2071.00 1.00 +0.05 -11.12 SHFE PB FUT -- -- -- -- LME Tin 19375.00 0.00 +0.00 -17.20 LME/Shanghai arb^ -292
Shanghai and COMEX contracts show most active months ($1 = 6.1347 Chinese yuan)
(Reporting by Manolo Serapio Jr.; Editing by Joseph Radford)