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METALS-London copper climbs as China reaffirms growth target

MELBOURNE, Oct 23 (Reuters) - London copper climbed on Monday alongside other metals, after Chinese authorities reaffirmed that the country's economy was on track to achieve the official target of 6.5 percent growth this year.

FUNDAMENTALS

* LME COPPER: London Metal Exchange copper rose by 0.4 percent to $6,982 a tonne by 0119 GMT, after closing little changed in the previous session, when it posted its fourth straight weekly gain. LME copper prices reached $7,177 a tonne last week, the highest in three years, as manufacturing brightens in Asia, Europe and the United States.

* SHFE COPPER: Shanghai Futures Exchange copper edged up by 0.2 percent to 54,800 yuan ($8,280) a tonne.

* CHINA ECONOMY: China's economy is on track to meet its official growth target for 2017, the head of the state planning agency said on Saturday, despite a punishing war on pollution which is expected to slash industrial output over the winter months.

* U.S. ECONOMY: President Donald Trump's tax reform plans won partial support on Friday when Republican U.S. Senator Rand Paul said he was "all in" for massive tax cuts, but the party was still far from united over how to achieve the main item on its domestic agenda.

* RECYCLING: After years of dismantling discarded televisions and laptops, a Shanghai recycling plant is readying itself for a new wave of waste: piles of exhausted batteries from the surge of electric vehicles hitting China's streets.

* INVESTORS: Hedge funds and money managers reduced their net long position in COMEX copper contracts to a five-week high in the week to Oct. 17, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

* ALUMINIUM: U.C. Rusal said that aluminium production rose 1.1 percent on the quarter to 931,000 tonnes in the third quarter. or

MARKETS NEWS

* Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe's ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the region.

DATA AHEAD (GMT) 0130 China House prices Sep 1230 U.S. National activity index Sep 1400 Euro zone Consumer confidence flash Oct PRICES

BASE METALS PRICES 0117 GMT Three month LME copper 6985.5 Most active ShFE copper 54740 Three month LME aluminium 2145 Most active ShFE aluminium 16245 Three month LME zinc 3121 Most active ShFE zinc 25460 Three month LME lead 2478 Most active ShFE lead 19230 Three month LME nickel 11775 Most active ShFE nickel 95060 Three month LME tin 19530 Most active ShFE tin 143980

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 693.81 LME/SHFE ALUMINIUM LMESHFALc3 -299.76 LME/SHFE ZINC LMESHFZNc3 694.2 LME/SHFE LEAD LMESHFPBc3 -729.83 LME/SHFE NICKEL LMESHFNIc3 2766.78

($1 = 6.6185 Chinese yuan)

(Reporting by Melanie Burton; Editing by Subhranshu Sahu)