METALS-Copper prices on track for biggest monthly gain in 11 months
SINGAPORE, Aug 30 (Reuters) - London copper was set to wrap up its biggest monthly gain in nearly a year on Friday on signs the global economy is edging towards recovery, although prices touched a three-week low on fresh strength in the dollar.
* Three-month copper on the London Metal Exchange was up 0.55 percent at $7,192 a tonne by 0104 GMT, paring losses from the previous session when it fell by 1.9 percent.
* Copper prices earlier edged down to $7,145 a tonne, the lowest since August 9, and are on track to close the week down more than two percent, the biggest weekly loss since mid-June. But copper is still up by nearly 4 percent for the month, its biggest gain since last September.
* The most-traded December copper contract on the Shanghai Futures Exchange fell 0.7 percent to 51,890 yuan a tonne.
* The U.S. economy accelerated sharply in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.
* Britain will not join any military action against Syria after a stunning parliamentary defeat on Thursday of a government motion on the issue, dealing a setback to U.S.-led efforts to punish Damascus over the use of chemical weapons against civilians.
* Ecuador's state mining company Enami EP will create a joint venture with the world's top copper producer, Chile's Codelco, to explore the Llurimagua copper reserves in the North of Ecuador, the head of Enami said on Thursday.
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* Asian stocks rose in early trading and oil prices tumbled as a possible U.S. military strike on Syria appeared less likely.
* The dollar greeted the Asian session on Friday at its highest in nearly four weeks against a basket of major currencies, having posted a strong rally thanks to month-end demand and upbeat U.S. economic data.
DATA/EVENTS (GMT) 0500 Japan Construction orders 0600 Germany Retail sales 0800 Italy Unemployment rate 0900 Euro zone Business climate 0900 Euro zone Economic sentiment 0900 Euro zone Inflation 0900 Euro zone Unemployment rate 1200 India Q2 GDP quarterly 1230 U.S. Personal income 1345 U.S. Chicago PMI
PRICES Base metals prices at 0105 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7192.00 39.00 +0.55 -9.29 SHFE CU FUT DEC3 51890 -370 -0.71 -10.04 HG COPPER SEP3 3.26 0.01 +0.42 -99.11 LME Alum 1835.00 0.00 +0.00 -11.40 SHFE AL FUT DEC3 14300 -80 -0.56 -6.81 LME Zinc 1930.00 -5.00 -0.26 -6.47 SHFE ZN FUT DEC3 14905 -640 -4.12 -4.12 LME Nickel 14073.00 -2.00 -0.01 -17.97 LME Lead 2192.00 -103.00 -4.49 -6.32 SHFE PB FUT 0.00 -14775.00 -100.00 -100.00 LME Tin 21405.00 0.00 +0.00 -8.53 LME/Shanghai arb^ -510
Shanghai and COMEX contracts show most active months third month
(Reporting by Melanie Burton; Editing by Richard Pullin)