METALS--Copper consolidates below four-week high as China demand supports

MELBOURNE, Oct 11 (Reuters) - London metals edged lower on Wednesday as the dollar rose from recent lows but prices found support from China buying on expectations of improving economic growth.

* London Metal Exchange copper slipped by 0.5 percent to $6,724 a tonne by 0304 GMT. In the previous session prices gained 1.4 percent, closing at $6,760.50, the highest since Sept. 11.

* Shanghai Futures Exchange (ShFE) copper rose 0.4 percent to 52,210 yuan ($7,937) a tonne. It earlier rose to 52,480 yuan, the highest since Sept 8.

* COPPER PREMIUMS RISE: Premiums for copper in or on the way to China rose to the highest since early August. Copper on a cost, insurance and freight basis to China edged up by $2.50 to $70 a tonne, the highest since Aug. 3. Premiums for metal in bonded warehouses in China rose $4 to $70 a tonne, the highest since Aug. 7. <0#BASECIF-SHMET> <CU-BMPBW-SHMET>

* GLOBAL GROWTH: The current broad-based global economic upswing will likely be sustained this year and next, the International Monetary Fund said on Tuesday, with gains in most of the world offsetting sluggish outcomes in the United States, Britain and India.

* JAPAN ORDERS: Japan's core machinery orders rose for a second straight month in August, handily beating market expectations, signaling a pickup in capital expenditure that should encourage Prime Minister Shinzo Abe ahead of a general election this month.

* U.S. DOLLAR: The dollar rose slightly against a basket of six major currencies on Wednesday, gaining 0.02 percent. The dollar index was at a 10-week high on Friday though it has dropped from that amid speculation that President Donald Trump's tax overhaul plan would stall, with a buoyant euro adding further pressure.

* COBALT: The London Metal Exchange's new cobalt contract is likely to be cobalt sulfate, a chemical compound vital for the manufacture of the batteries used in the fast-growing electric vehicle sector, its chief executive Matt Chamberlain told Reuters on Tuesday.

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* Asian shares rose on Wednesday, tracking Wall Street's rally to all-time highs, while the euro hovered near a 10-day peak after Catalonia's leader talked down immediate plans to secede from Spain, easing near-term concerns about euro zone instability.

DATA/EVENTS No major data scheduled. PRICES

BASE METALS PRICES 0234 GMT Three month LME copper 6727.5 Most active ShFE copper 52300 Three month LME aluminum 2159.5 Most active ShFE aluminum 16465 Three month LME zinc 3266 Most active ShFE zinc 26230 Three month LME lead 2543 Most active ShFE lead 20855 Three month LME nickel 10985 Most active ShFE nickel 88090 Three month LME tin 20775 Most active ShFE tin 146550



($1 = 6.5780 Chinese yuan renminbi)

(Reporting by Melanie Burton; Editing by Christian Schmollinger)