METALS-Copper in tight range after mixed China, U.S. data
SINGAPORE, Aug 27 (Reuters) - London copper held in a tight range in early Asian trade on Tuesday, held back by concerns about a U.S. economic recovery after recent softer data, although brighter signs in top metals consumer China underpinned prices.
* Three-month copper on the London Metal Exchange was unchanged at $7,360 a tonne by 0106 GMT, from the previous session on Friday. London markets were closed on Monday for a bank holiday.
* LME copper prices fell for the first week in four last week as a rebound spluttered. Copper prices have recovered by more than 11 percent from three-year troughs touched in late June but are still down by around 7 percent this year.
* The most-traded December copper contract on the Shanghai Futures Exchange slipped by 0.47 percent to 53,020 yuan ($8,700)a tonne. It on Monday hit its highest since April 15 at 53,620 yuan a tonne.
* Orders for long-lasting U.S. manufactured goods recorded their biggest drop in nearly a year in July and a gauge of planned business spending on capital goods also tumbled, casting a shadow over the economy early in the third quarter.
* The Obama administration warned Congress on Monday that the United States could run out of money to pay its bills soon after mid-October if lawmakers do not move swiftly to raise a limit on government borrowing.
* China's economy is showing clear signs of stabilisation, helped by policy support and some improvement in global demand, and is on track to meet the government's 2013 growth target of 7.5 percent, the state statistics bureau said on Monday.
* A consortium of Chinese investors has demanded a review of a landmark $3 billion deal to produce copper in Afghanistan, the Ministry of Mines said on Monday, putting at risk one of Kabul's greatest hopes for economic independence.
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* Asian stocks slipped on Tuesday, while Brent crude held near a five-month high after the United States signalled possible military action against the Syrian government over a suspected chemical weapons attack.
DATA/EVENTS (GMT) 0800 Germany Ifo business climate 1145 U.S. ICSC weekly chain store sales 1230 U.S. Chicago Fed manufacturing index 1300 U.S. CaseShiller home price index 1400 U.S. Consumer confidence 1400 U.S. Richmond Fed manufacturing index 2030 U.S. API weekly crude stocks
PRICES Base metals prices at 0107 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7360.00 0.00 +0.00 -7.18 SHFE CU FUT DEC3 53020 -250 -0.47 -8.08 HG COPPER SEP3 3.35 0.03 +0.89 -99.08 LME Alum 1898.00 5.00 +0.26 -8.35 SHFE AL FUT DEC3 14470 -10 -0.07 -5.70 LME Zinc 1983.00 -3.50 -0.18 -3.90 SHFE ZN FUT DEC3 15180 -365 -2.35 -2.35 LME Nickel 14567.00 42.00 +0.29 -15.09 LME Lead 2220.00 10.00 +0.45 -5.13 SHFE PB FUT 14850.00 -85.00 -0.57 -2.62 LME Tin 21750.00 0.00 +0.00 -7.05 LME/Shanghai arb^ -428
Shanghai and COMEX contracts show most active months month
($1 = 6.1225 Chinese yuan)
(Reporting by Melanie Burton; Editing by Ed Davies)