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METALS-London copper steadies near 1-wk low, Chile strike worries support

(Updates prices) MELBOURNE, July 6 (Reuters) - London copper steadied on Thursday near one-week lows, underpinned by a weaker dollar and the threat of strikes at mines in Chile. "Rallies remain short-lived, with investors reluctant to chase prices higher until there is evidence that markets are tightening significantly," ANZ said in a report

FUNDAMENTALS

* LME COPPER: London Metal Exchange copper had edged up 0.1 percent to $5,849.50 a tonne by 0730 GMT. Prices fell 0.9 percent on Wednesday to hit their lowest since June 27 at $5,815.

* SHFE COPPER: Shanghai Futures Exchange copper slipped 0.5 percent to 46,960 yuan ($6,903) a tonne.

* STRIKES: Chile's Antofagasta Minerals said this week that it was facing potential strikes from workers at two mines.

* U.S. ECONOMY: Federal Reserve policymakers were increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises, according to the minutes of the Fed's last policy meeting on June 13-14, released on Wednesday.

* NORTH KOREA: The United States cautioned on Wednesday it was ready to use force if need be to stop North Korea's nuclear missile program, but said it preferred global diplomatic action against Pyongyang.

* DRC: The Democratic Republic of Congo plans to impose harsher punishments on mining companies that fail to repatriate at least 40 percent of their revenue from mineral exports, central bank governor Deogratias Mutombo said on Wednesday.

* BAUXITE: A year and a half after banning bauxite mining to force miners to meet environmental standards, Malaysia's exports to main customer China are again growing, raising public anger over illegal mining.

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* MARKETS: Most Asian stock markets fell on Thursday after the release of the Fed minutes, while oil prices inched higher following a steep decline a day earlier.

COMING UP U.S. ISM non-manufacturing PMI Jun at 1400 GMT

PRICES

BASE METALS PRICES 0730 GMT Three month LME copper 5849 Most active ShFE copper 46960 Three month LME aluminum 1929.5 Most active ShFE aluminum 14210 Three month LME zinc 2787 Most active ShFE zinc 22960 Three month LME lead 2279 Most active ShFE lead 17575 Three month LME nickel 9130 Most active ShFE nickel 75210 Three month LME tin 19680 Most active ShFE tin 143830

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 537.48 LME/SHFE ALUMINIUM LMESHFALc3 -1069.

52

LME/SHFE ZINC LMESHFZNc3 231.19 LME/SHFE LEAD LMESHFPBc3 -1405.

98

LME/SHFE NICKEL LMESHFNIc3 2619.8

7

($1 = 6.8027 Chinese yuan renminbi)

(Reporting by Melanie Burton; Editing by Richard Pullin and Joseph Radford)