×

METALS-Copper prices ease on weak U.S. data, firm dollar

SYDNEY, June 27 (Reuters) - Copper prices eased in early Asian trading on Tuesday, hurt by weak U.S. durable goods figures and a firm dollar. New orders for key U.S.-made capital goods fell unexpectedly in May and shipments also declined, data released overnight showed, suggesting a loss of momentum in the manufacturing sector halfway through the second quarter. "The decline in orders was a surprise, which along with the U.S. dollar took more wind out of copper today," a trader in Perth said. A stronger dollar can encourage investors outside the United States to sell down positions and take currency-generated profits.

FUNDAMENTALS

* LME COPPER: Three-month copper on the London Metal

Exchange stood slightly weaker at $5,786.75 a tonne, as

of 0236 GMT, extending losses from the previous session.

* ShFE COPPER: The most-traded copper contract on the

Shanghai Futures Exchange slipped 0.09 percent to

46,500 yuan ($6,795) a tonne. The contract opened at 46,680 a tonne. CHINA INDUSTRIAL EARNINGS: Profits earned by China's industrial firms in May rose 16.7 percent from a year earlier, the statistics bureau said on Tuesday, quickening from the previous month. JAPANESE ALUMINIUM: Japanese aluminium buyers have agreed to pay producers a premium of $118 to 119 per tonne for metal shipped during the July to September quarter, reflecting weaker spot premiums, five sources directly involved in the quarterly pricing talks said. MONGOLIA VOTES: There was no outright winner in Mongolia's presidential election on Monday, forcing the country's first ever second-round run-off between the two leading candidates, the country's General Election Committee said of Tuesday.

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

MARKETS NEWS

* Japanese stocks closed in on two-year highs early on Tuesday thanks to a weaker yen while the euro sagged against its peers after European Central Bank President Mario Draghi talked up benefits of the ECB's easy monetary policy. Japan's benchmark

Nikkei advanced 0.4 percent to 20,235.79. A rise above

20,318.11, a peak scaled a week ago, would take the Nikkei to its highest since August 2015.

DATA/EVENTS

1300 US S&P/Case-Shiller home price index April 1400 US Richmond Fed manufacturing index June 1400 US Consumer confidence index June

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 Most active ShFE nickel Three month LME tin Most active ShFE tin

ARBS

($1 = 6.8430 Chinese yuan)

(Reporting by James Regan; Editing by Sherry Jacob-Phillips)