METALS-London copper perks up on brightening China factory data
SINGAPORE, Sept 2 (Reuters) - London copper rallied more than 1.5 percent on Monday after data showed China's manufacturing sector expanding at the fastest pace in more than a year, burnishing the outlook for metals demand.
* Three-month copper on the London Metal Exchange climbed by 1.69 to $7,215 a tonne by 0105 GMT, reversing losses from the previous session when it fell by 0.8 percent.
* Copper gained 3.2 percent in August, its biggest monthly rise since May. Prices hit a three-week low of $7,081.50 a tonne on Friday.
* The most-traded December copper contract on the Shanghai Futures Exchange climbed 0.79 percent to 52,270 yuan ($8,500) a tonne.
* China's factory activity expanded at the fastest pace in more than a year in August with a jump in new orders, official data showed on Sunday, raising hopes that a rapid economic slowdown in the world's second-largest economy may have been arrested.
* The purchasing managers' index (PMI) figure, published by the National Bureau of Statistics, rose to 51.0 in August from 50.3 in July, the highest level since last April and ahead of market expectations of 50.6 in a Reuters poll.
* President Barack Obama and his top aides launched a full-scale political offensive on Sunday to persuade a skeptical Congress to approve a military strike against Syria, but faced an uphill struggle to win over many lawmakers and a war-weary American public.
* Hedge funds and money managers cut bets in futures and options of U.S. copper markets for the week ended Aug 27, a report by the Commodity Futures Trading Commission showed on Friday.
* U.S. markets are shut on Monday for a Labour Day holiday.
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* Asian shares, the Australian dollar and copper prices rose on Monday while the yen fell as hopes grew that China may have halted a sharp economic slowdown after factory activity data expanded at the fastest pace in more than a year in August.
* The yen eased against the dollar on Monday, while commodity currencies such as the Australian dollar edged higher in the wake of upbeat Chinese data and worries about an imminent military strike against Syria diminished.
DATA/EVENTS 0145 China HSBC Mfg PMI Final Aug 0500 India HSBC Markit Mfg PMI Aug 0743 Italy Markit/ADACI Mfg PMI Aug 0753 Germany Markit/BME Mfg PMI Aug 0758 EZ Markit Mfg PMI Aug Russia HSBC Mfg PMI Aug
PRICES Base metals prices at 0106 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7215.00 120.00 +1.69 -9.00 SHFE CU FUT DEC3 52270 410 +0.79 -9.38 HG COPPER DEC3 3.28 0.05 +1.55 -99.10 LME Alum 1818.00 5.00 +0.28 -12.22 SHFE AL FUT DEC3 14255 -30 -0.21 -7.10 LME Zinc 1914.00 9.00 +0.47 -7.24 SHFE ZN FUT DEC3 14875 -670 -4.31 -4.31 LME Nickel 13850.00 50.00 +0.36 -19.27 LME Lead 2169.50 18.00 +0.84 -7.29 SHFE PB FUT 14695.00 -5.00 -0.03 -3.64 LME Tin 21225.00 0.00 +0.00 -9.29 LME/Shanghai arb^ -744
Shanghai and COMEX contracts show most active months month ($1 = 6.1195 Chinese yuan)
(Reporting by Melanie Burton; Editing by Richard Pullin)