METALS-Copper steady, glimmer of global economic revival underpins
SINGAPORE, Aug 23 (Reuters) - Copper prices held steady on Friday but were set to snap three weeks of gains as concerns over a gradual end to U.S. stimulus snagged a slowly improving outlook for metals.
* Three-month copper on the London Metal Exchange was flat at $7,324.50 a tonne by 0105 GMT, from the previous session when it gained by 1.1 percent on the day.
* London copper was set to close the week down by around one percent for its largest weekly loss since late June, having gained for the last three consecutive weeks.
* The most-traded December copper contract on the Shanghai Futures Exchange climbed 0.21 percent to 52,680 yuan ($8,600) a tonne.
* Business surveys on Thursday suggested the world economy was on the mend, with U.S. and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.
* The number of Americans filing new claims for jobless benefits last week held near a six-year low and U.S. manufacturing activity rose this month, suggesting the economy is starting to find a firmer footing.
* Chinese copper imports are expected to rise in coming months as the country's industrial production recovers and new infrastructure projects start, Europe's biggest copper producer Aurubis said on Thursday.
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* Asian shares rose in early trading on Thursday after economic data suggested the global economy is expanding, which took the edge off persistent fears of the U.S. Federal Reserve's likely withdrawal of stimulus.
* The dollar edged higher versus the yen on Friday, with some traders speculating that the dollar could attract demand from Japanese importers.
DATA/EVENTS (GMT) 0200 China Foreign direct investment 0600 Germany Q2 GDP detailed 1400 Euro zone Consumer confidence 1400 U.S. New home sales
PRICES Base metals prices at 0105 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7324.75 4.75 +0.06 -7.62 SHFE CU FUT DEC3 52680 110 +0.21 -8.67 HG COPPER SEP3 3.34 0.01 +0.18 -99.09 LME Alum 1887.75 3.75 +0.20 -8.85 SHFE AL FUT DEC3 14420 00 +0.00 -6.03 LME Zinc 1973.75 -0.25 -0.01 -4.35 SHFE ZN FUT DEC3 15140 -405 -2.61 -2.61 LME Nickel 14433.00 3.00 +0.02 -15.87 LME Lead 2205.50 -3.50 -0.16 -5.75 SHFE PB FUT 0.00 -14785.00 -100.00 -100.00 LME Tin 21875.00 0.00 +0.00 -6.52 LME/Shanghai arb^ -327
Shanghai and COMEX contracts show most active months month ($1 = 6.1211 Chinese yuan)
(Reporting by Melanie Burton; Editing by Richard Pullin)