METALS-Copper rises on China demand hopes, improved risk appetite
SINGAPORE, Sept 11 (Reuters) - Copper ticked higher on Wednesday, recouping last session's losses on signs of strength in the Chinese economy and hopes that a U.S. military strike against Syria will be averted.
* Three-month copper on the London Metal Exchange rose 0.3 percent to $7,191.75 a tonne by 0103 GMT. The most-traded December copper contract on the Shanghai Futures Exchange gained 0.3 percent to 52,100 yuan a tonne.
* Syria accepted a Russian proposal on Tuesday to give up chemical weapons and win a reprieve from U.S. military strikes.
Reduced political turmoil usually boosts investor appetite for risky assets such as metals.
* Copper has risen more than 8 percent since touching three-year lows in June on mounting evidence that a slowdown in China may be bottoming out.
* Data from China this week signalled its economy is improving. China's exports rose by a forecast-beating 7.2 percent in August from a year earlier.
* China's annual industrial output rose 10.4 percent in August, beating market expectations, while retail sales rose 13.4 percent, official data showed on Tuesday.
* China accounts for about 40 percent of global copper consumption.
* The gains in copper were capped as latest LME data showed stocks at 588,475 tonnes, up more than 20,000 tonnes from a low of 565,500 tonnes in August. The trend of rising stocks is leading investors to fret that the copper market surplus is widening.
* Asian stocks rose on Wednesday, on track to post their 10th straight day of gains, while investors gave the safe-haven yen a wide berth as optimism for the Chinese economy grew and worries about U.S. military strikes on Syria receded.
DATA/EVENTS (GMT) 1100 U.S. Weekly mortgage market index 1400 U.S. Wholesale inventories 1430 U.S. EIA weekly crude stocks
(Reporting by Naveen Thukral; Editing by Richard Pullin)