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METALS-Copper holds near one-week high, weaker dollar supports

SYDNEY, April 9 (Reuters) - London copper hovered near one-week highs on Wednesday, underpinned by a weaker dollar and expectations demand from top consumer China would modestly improve in the seasonally strong second quarter.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange had edged up by 0.2 percent to $6680.75 a tonne by 0124 GMT, after closing the previous session little changed.

* The most-traded July copper contract on the Shanghai Futures Exchange was up 0.1 percent at 46,760 yuan ($7,500) a tonne.

* The International Monetary Fund on Tuesday predicted the global recovery would strengthen this year and next as output in richer nations picked up, but it warned of rising risks in emerging economies.

* The dollar was holding near two week lows against a basket of currencies.. The greenback has been facing headwinds since the government on Friday reported the U.S. economy added 192,000 jobs in March, down from about 200,000 in February.

* China's first-ever domestic bond defaults, a weakening currency and slowing growth are not normal buy signals, but money managers see them as a sign that the country's reform drive is genuine and that stocks offer long-term value.

* World No.1 copper miner Codelco's first quarter output met targets and the Chilean company's full-year own production will beat 2013 levels thanks to its new mine, the chief executive officer told Reuters, likely buoying bets on a red metal surplus.

* For the top stories in metals and other news, click , or

MARKETS NEWS

* Asian shares rose in early trade on Wednesday after Wall Street snapped a three-day losing streak, but Japanese stocks tumbled after the yen surged on fading hopes of near-term stimulus from the Bank of Japan.

DATA AHEAD (GMT)

0600 Germany Exports Feb

0600 Germany Imports Feb

1400 U.S. Wholesale sales Feb

1800 Federal Reserve releases minutes for March meeting

1700 U.S. World Agricultural Supply and Demand Estimates (for grains)

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 = 6.1968 Chinese Yuan)

(Reporting by Melanie Burton)