METALS-London copper drifts as U.S. impasse drains risk appetite
SINGAPORE, Oct 9 (Reuters) - London copper edged down on Wednesday as a lack of significant progress on the U.S. fiscal deadlock eroded appetite for risk assets, while Chinese consumers were content to wait for lower prices.
* Three-month copper on the London Metal Exchange eased 0.2 percent to $7,223 a tonne by 0105 GMT, from the previous session when it finished little changed.
* The most-traded January copper contract on the Shanghai Futures Exchange slipped 0.5 percent to 52,220 yuan ($8,500) a tonne.
* President Barack Obama refused to give ground in a fiscal confrontation with Republicans on Tuesday, saying he would negotiate on budget issues only if they agree to re-open the federal government and raise the debt limit with no conditions.
* Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central bank on Wednesday, putting her on course to be the first woman to lead the institution in its 100-year history.
* Global aluminum premiums have fallen due to "confusion" over the London Metal Exchange's proposal announced on July 1 to overhaul its warehousing policy, Alcoa Inc Chief Financial Officer and Vice President William Oplinger said on Tuesday.
* Chile's government is reviewing the way it funds state-owned copper miner Codelco following requests from some members of parliament, the country's mining minister told Reuters on Tuesday.
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* U.S. stock futures rebounded from a one-month low on Wednesday on news that U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen, seen as a proponent of dovish policy, as the next head of the U.S. central bank.
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1000 German August Industrial Output
1100 U.S. Weekly Mortgage Market Index
2350 Japan August Machinery Orders
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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 = 6.1211 Chinese yuan)
(Reporting by Melanie Burton; Editing by Richard Pullin)