METALS-London copper faces biggest weekly loss in one month
SINGAPORE, Oct 11 (Reuters) - London copper edged up on Friday but was still facing its biggest weekly loss in a month on prolonged concerns over the U.S. fiscal deadlock, although signs of a possible resolution may spur prices to recoup more ground.
* Three-month copper on the London Metal Exchange edged up 0.2 percent to $7,156 a tonne by 0107 GMT, adding to gains from the previous session when it climbed 0.6 percent.
* Prices on Thursday slipped to a three week trough of $7081 a tonne, the lowest since Sept. 18, and are set to chalk up a 1.2 percent weekly loss, the largest since mid September.
* The most-traded January copper contract on the Shanghai Futures Exchange climbed by 0.51 percent to 51,670 yuan ($8,400) a tonne.
* Republicans offered a plan to President Barack Obama on Thursday that would postpone a possible U.S. default in a sign the two sides may be moving to end the standoff that has shuttered large parts of the government and thrown America's future creditworthiness into question.
* U.S. Republican Representative Pete Sessions said he hoped a deal could be struck by Friday.
* Newmont Mining Corp cut its forecast for full-year copper production on Thursday, blaming lower-than-expected throughput at its Boddington mine in Australia and lower-than-expected ore grade processed at its Batu Hijua operation in Indonesia.
* Colombia's Cerro Matoso, the world's No. 2 ferronickel producer, partially restarted operations on Thursday after protesting indigenous groups lifted their blockade of the mine's entrance.
* Two groups of Chinese miners, in partnerships that will pit giant Chinalco against rival Minmetals, lead a shortlist of suitors for Glencore Xstrata's $5.9 billion Las Bambas copper mine in Peru, according to sources involved in the process.
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* Major U.S. stock indexes posted their strongest rally in more than nine months on Thursday after signs of progress in negotiations to raise the U.S. debt limit.
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1200 India Industrial output
1355 University of Michigan consumer sentiment
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 = 6.1158 Chinese yuan)
(Reporting by Melanie Burton; Editing by Richard Pullin)