METALS-London copper firms on supportive Fed, China PMI
SINGAPORE, Aug 1 (Reuters) - London copper edged up on Thursday as the Federal Reserve gave no indication it was planning to reduce monetary stimulus imminently and as Chinese manufacturing data beat expectations. FUNDAMENTALS
* Three-month copper on the London Metal Exchange had climbed 0.27 percent to $6,898.25 a tonne by 0106 GMT, after gaining 2.2 percent the session before.
* The most-traded November copper contract on the Shanghai Futures Exchange rallied 1.49 percent to 49,640 yuan ($8,100) a tonne.
* The Fed on Wednesday said the U.S. economy continues to recover but is still in need of support, offering no signs that it is planning to curb its bond-buying stimulus at its next meeting in September.
* U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year.
* Growth in China's manufacturing sector picked up slightly in July, with the official purchasing managers' index (PMI) rising to 50.3 from June's 50.1, data showed on Thursday. That was stronger than market expectations in a Reuters poll of 49.9.
* Ohio's state utility regulator on Wednesday rejected Ormet Corp's appeal for an expedited decision on the aluminium producer's request for lower electricity rates, which it said are crucial to operating its aluminium smelter and alumina refinery.
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* The U.S. dollar was at six-week lows against a basket of major currencies on Thursday.
DATA/EVENTS (GMT) 0145 China HSBC manufacturing PMI final 0500 India HSBC Markit manufacturing PMI 0743 Italy Markit/ADACI manufacturing PMI 0753 Germany Markit/BME manufacturing PMI 0758 Euro zone Markit manufacturing PMI 1145 European Central Bank policy decision 1230 ECB President Mario Draghi holds news conference 1230 U.S. Weekly jobless claims 1400 U.S. ISM manufacturing PMI 1400 U.S. Construction spending
PRICES Base metals prices at 0106 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6898.25 18.25 +0.27 -13.00 SHFE CU FUT NOV3 49640 730 +1.49 -13.94 HG COPPER SEP3 3.12 0.00 -0.06 -99.15 LME Alum 1805.00 1.00 +0.06 -12.84 SHFE AL FUT NOV3 14240 50 +0.35 -7.20 LME Zinc 1849.50 6.50 +0.35 -10.37 SHFE ZN FUT NOV3 14510 -1035 -6.66 -6.66 LME Nickel 13988.00 113.00 +0.81 -18.46 LME Lead 2065.50 -4.50 -0.22 -11.73 SHFE PB FUT 0.00 -13860.00 -100.00 -100.00 LME Tin 20399.00 49.00 +0.24 -12.82 LME/Shanghai arb^ -398
Shanghai and COMEX contracts show most active months month ($1 = 6.1289 Chinese yuan)
(Reporting by Melanie Burton; Editing by Joseph Radford)