METALS-London copper eyes second weekly loss in three on U.S. fiscal worries
SINGAPORE, Sept 27 (Reuters) - London copper was steady on Friday but was set for its second weekly loss in three as worries over U.S. fiscal policy clouded the outlook for investors.
* Three-month copper on the London Metal Exchange had edged down to $7,229 a tonne by 0105 GMT, from the previous session when it logged gains of 0.8 percent.
* Copper prices were on course to mark their third monthly advance in a row, rebounding from 3-year lows of $6,602 a tonne in late June.
* The most-traded December copper contract on the Shanghai Futures Exchange rose by 0.37 percent to 52,220 yuan ($8,500) a tonne.
* U.S. House of Representatives Republicans on Thursday refused to give in to President Barack Obama's demand for straightforward bills to run the government beyond Sept. 30 and to increase borrowing authority to avoid a historic default.
* Contracts to buy previously owned U.S. homes fell for the third straight month in August but fewer Americans filed new claims for jobless benefits last week, giving conflicting signals on the health of the economy.
* China's recent economic data reinforced the International Monetary Fund's forecast that the world's second-largest economy will avoid a second-half slowdown and grow 7.75 percent this year, a fund official said on Thursday.
* A 48-hour nationwide strike in Peru likely will not affect mineral output from Peru, although many union mining workers picketed in Lima on Thursday to protest changes to a pension program, union and company officials said on Thursday.
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* The dollar held onto modest overnight gains in Asia on Friday but was on track to end the week flat, hampered by the threat of a historic U.S. debt default hanging in the air and lack of clarity over when the Federal Reserve will scale back stimulus.
Base metals prices at 0105 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7229.00 -22.00 -0.30 -8.83 SHFE CU FUT DEC3 52220 190 +0.37 -9.47 HG COPPER DEC3 3.29 -0.01 -0.42 -99.10 LME Alum 1817.00 -5.00 -0.27 -12.26 SHFE AL FUT JAN4 14205 20 +0.14 -7.43 LME Zinc 1892.75 -5.25 -0.28 -8.27 SHFE ZN FUT JAN4 14765 -780 -5.02 -5.02 LME Nickel 13832.00 2.00 +0.01 -19.37 LME Lead 2087.00 -9.50 -0.45 -10.81 SHFE PB FUT 0.00 -14095.00 -100.00 -100.00 LME Tin 23225.00 0.00 +0.00 -0.75 LME/Shanghai arb^ -463
DATA/EVENTS 0645 France Consumer spending 0800 Italy Business confidence 0900 Euro zone Economic sentiment 1200 Germany Consumer inflation 1230 U.S. Personal income PRICES 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 ($1 = 6.1214 Chinese yuan)
(Reporting by Melanie Burton; Editing by Joseph Radford)