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METALS-London metals consolidate on stronger dollar ahead of Jackson Hole

(Adds comment, detail, updates prices) MELBOURNE, Aug 23 (Reuters) - London metals slipped on Wednesday as the dollar stood tall ahead of a meeting of global central bankers at Jackson Hole in the United States later in the week. "Base metals were weaker as the USD weighed on investor appetite," ANZ said in a report. It also said the Shanghai Futures Exchange's move to cool down the zinc market by imposing caps on trading positions and raising transaction fees had dented demand.

FUNDAMENTALS

* LONDON COPPER: London Metal Exchange copper had slipped 0.2 percent to $6,565 a tonne by 0430 GMT, after ending little changed in the previous session, when prices touched their highest since November 2014 at $6,649 a tonne.

* SHANGHAI COPPER: Shanghai Futures Exchange copper dropped 0.4 percent to 51,570 yuan ($7,743) a tonne.

* SHANGHAI ZINC: ShFE zinc was down 1.1 percent, recovering some of its earlier losses of more than 2 percent, as new measures set down by the bourse to cool trading came into effect. The price differential between ShFE and LME zinc and lead prices has been encouraging for Chinese imports for most of August, also suggesting greater deliveries into September.

* JAPAN MANUFACTURING: Japanese manufacturing activity expanded at the fastest pace in three months in August as domestic and export orders rebounded, a preliminary private survey showed on Wednesday, highlighting that global demand remains buoyant. INDONESIA: Indonesia expects to strike an agreement this month to allow Freeport McMoRan Inc to keep operating its huge copper mine in Papua in the coming decades, the country's mining and energy minister said on Tuesday.

* CHILE: BHP Billiton's Escondida copper mine in Chile has recovered from a six-week strike faster than expected, with output now running at normal levels, an executive with the company said on Tuesday.

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MARKETS NEWS

* Asian stocks edged higher on Wednesday to extend a global rally spurred by gains for tech shares on Wall Street and miners in Europe, while the dollar was buoyant against the euro and yen ahead of the Jackson Hole gathering.

DATA/EVENT AHEAD (GMT) 0700 Speech by ECB President Mario Draghi in Germany 0700 France Markit manufacturing flash PMI Aug 0730 Germany Markit manufacturing flash PMI Aug 0800 Euro zone Markit manufacturing flash PMI Aug 1345 U.S. Markit manufacturing flash PMI Aug 1400 Euro zone Consumer confidence flash Aug 1400 U.S. New home sales Jul PRICES

BASE METALS PRICES 0431 GMT Three month LME copper 6565 Most active ShFE copper 51570 Three month LME aluminum 2072 Most active ShFE aluminum 16205 Three month LME zinc 3122 Most active ShFE zinc 25950 Three month LME lead 2415.5 Most active ShFE lead 19660 Three month LME nickel 11335 Most active ShFE nickel 91800 Three month LME tin 20370 Most active ShFE tin 142040

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 580.16 LME/SHFE ALUMINIUM LMESHFALc3 183.75 LME/SHFE ZINC LMESHFZNc3 1113.84 LME/SHFE LEAD LMESHFPBc3 111.3 LME/SHFE NICKEL LMESHFNIc3 926.83

(Reporting by Melanie Burton; Editing by Joseph Radford and Amrutha Gayathri)