METALS-Copper hits 3-week high as Fed sticks to stimulus
MELBOURNE, Sept 19 (Reuters) - London copper jumped to a three-week top on Thursday, stretching its gains into a second straight session after the U.S. Federal Reserve stunned investors by maintaining its bond buying program, a key driver of investment in global commodities.
* Three-month copper on the London Metal Exchange rose to $7,303 a tonne, the highest since Aug. 28, before trading at $7,297 by 0018 GMT, up 1.6 percent. Copper ended up 1.5 percent in the previous session.
* The Shanghai Futures Exchange is closed on Thursday and Friday for holidays.
* The U.S. Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth.
* Peruvian miner Minsur SA, one of the world's biggest tin producers, will produce 30,000 tons of tin this year, similar to last year's output, Chief Executive Juan Luis Kruger told Reuters on Wednesday.
* Global miner Southern Copper expects to start work on two delayed copper projects in Peru next year and could see production from them as early as 2016, the company's chief executive said on Wednesday.
* Peruvian miner Antamina expects to produce about 450,000 tons of copper in 2013, the same as last year, and will likely maintain that level of output in coming years, the company's chief executive said on Wednesday.
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* The dollar languished at a seven-month low against a basket of major currencies in Asia on Thursday after the Federal Reserve wrong footed many investors who had positioned for a scaling back in its massive stimulus program.
* Asian shares and currencies looked set to surge on Thursday after the Fed's decision to not taper its asset-buying programme.
DATA EVENTS (GMT)
1230 U.S. Initial jobless claims
1230 U.S. Jobless claims 4-wk avg
1230 U.S. Continued jobless claims
1400 U.S. Philly Fed business indx for Sep
1400 U.S. Exist. home sales % chg for Aug
1400 U.S. Existing home sales for Aug
1430 U.S. Nat gas-EIA, change bcf
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Three month LME tin
(Reporting by Melanie Burton; Editing by Himani Sarkar)