METALS-London copper awaits US jobs data for clues on demand
SINGAPORE, Oct 22 (Reuters) - London copper was locked in a narrow range on Tuesday ahead of the first U.S. jobs report in nearly two months, as investors try to assess the health of the world's biggest economy after signs of slower Asian growth has dimmed the outlook for metals.
* Three-month copper on the London Metal Exchange was little changed at $7,248.75 a tonne by 0118 GMT from the previous session when it also ended barely moved.
* The most-traded January copper contract on the Shanghai Futures Exchange edged up 0.19 percent to 52,200 yuan ($8,600) a tonne.
* LME nickel, zinc and lead reached the highest in around 7 weeks on Monday as traders focus on smaller markets with either risk to production, in the case of nickel, or improving fundamental outlooks, such as lead and zinc.
* It will be "tough" for the Federal Reserve to have sufficient confidence in the strength of the U.S. recovery by its meeting in December to start scaling back a massive Fed bond-buying campaign, a senior U.S. central banker said on Monday.
* U.S. home resales fell in September and prices cooled as higher mortgage rates took the edge off the housing market recovery.
* China's cabinet called for greater effort in revamping the economy because a recovery is not yet solid, seeking quicker progress on restructuring industry and increasing consumption while guarding against risk and protecting people's livelihoods.
* China's refined copper production rose 10.6 percent in September 2013 from the previous month, according to figures from the National Bureau of Statistics.
* Global miner BHP Billiton upgraded its iron ore production target for fiscal 2014 while petroleum output hit a quarterly record, as it ramps up output to capture more of a slower-growing market for raw materials.
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* Asian shares steadied at a five-month high and a recently battered dollar stabilised ahead of a key U.S. jobs report later on Tuesday that will give clues as to whether the Federal Reserve will start withdrawing stimulus this year.
Base metals prices at 0118 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 7248.75 5.75 +0.08 -8.58 SHFE CU FUT JAN4 52200 100 +0.19 -9.50 HG COPPER DEC3 3.30 0.00 -0.06 -99.10 LME Alum 1853.00 1.00 +0.05 -10.53 SHFE AL FUT JAN4 14350 05 +0.03 -6.48 LME Zinc 1941.25 1.25 +0.06 -5.92 SHFE ZN FUT JAN4 15060 -485 -3.12 -3.12 LME Nickel 14459.00 94.00 +0.65 -15.72 LME Lead 2186.75 -3.25 -0.15 -6.55 SHFE PB FUT 14465.00 35.00 +0.24 -5.15 LME Tin 22800.00 0.00 +0.00 -2.56 LME/Shanghai arb^ -530
DATA/EVENTS (GMT) 0200 China House prices 1145 U.S. ICSC weekly chain store sales 1230 U.S. Unemployment rate 1230 U.S. Nonfarm payrolls 1300 U.S. Net capital flows 1400 U.S. Construction spending 1400 U.S. Richmond Fed composite index
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 = 6.0925 Chinese yuan)
(Reporting by Melanie Burton; Editing by Ed Davies)