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METALS-Copper prices pick up from 1-mth low as weaker dollar lifts metals

MELBOURNE, Nov 10 (Reuters) - London Metal Exchange copper on Friday edged away from one-month lows as a weaker dollar broadly lifted base metals, although it remained on track for a weekly loss.

FUNDAMENTALS

* COPPER: LME copper had risen 0.1 percent to $6,816.50 a tonne by 0212 GMT, following small losses in the previous session when it sank to its weakest since Oct. 11 at $6,761.50. Shanghai Futures Exchange copper was flat at 53,490 yuan ($8,058) a tonne.

* OPEN INTEREST: Open interest in the LME copper contract has fallen below 320,000 lots to the lowest since May <MCU-OI-TOT> and close to the lowest in a year.

* U.S. DOLLAR: The U.S. dollar slipped to a six-day low against a basket of currencies on Thursday as investors fretted over a Republican tax plan that would delay corporate tax cuts.

* JAPAN MANUFACTURERS: Confidence among Japanese manufacturers slipped in November from a decade-high seen the previous month, a Reuters poll showed, but it remained strong - underscoring the economy's continuing expansion.

* NOBLE: Commodities trader Noble Group reported a third-quarter loss of $1.17 billion, hit by charges from disposals of some of its businesses, and warned that the operating environment remains challenging.

* FREEPORT: Armed separatists have occupied five villages in Indonesia's Papua province, threatening to disrupt Freeport-McMoRan Inc's giant Grasberg copper mine, which has already been hit this year by labour unrest and a dispute over operating rights.

* LEAD: LME lead was the only metal on track for a weekly gain, of 3.1 percent, as prices hit the highest since Oct. 17 at $2,542 a tonne. LME stocks have fallen to the lowest in almost two years below 150,000 tonnes. <MPBSTX-TOTAL>

* LEAD FUNDAMENTALS: Global demand for refined lead metal will exceed supply by 125,000 tonnes this year, while a deficit of 45,000 tonnes is expected in 2018, according to the International Lead and Zinc Study Group (ILZSG).

MARKETS NEWS

* Asian shares slipped on Friday on the uncertainty over U.S. tax reforms.

DATA AHEAD (GMT)

0745 France Industrial output Sep 0930 Britain Industrial output Sep 1500 U.S. Univ of Michigan sentiment index Nov BASE METALS PRICES 0114 GMT Three month LME copper 6832.5 Most active ShFE copper 53580 Three month LME aluminium 2097 Most active ShFE aluminium 15550 Three month LME zinc 3195.5 Most active ShFE zinc 25665 Three month LME lead 2532 Most active ShFE lead 19185 Three month LME nickel 12375 Most active ShFE nickel 99530 Three month LME tin 0 Most active ShFE tin 143050

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 582.78 LME/SHFE ALUMINIUM LMESHFALc3 -626.74 LME/SHFE ZINC LMESHFZNc3 602.53 LME/SHFE LEAD LMESHFPBc3 -1113.45 LME/SHFE NICKEL LMESHFNIc3 2739.22

($1 = 6.6381 Chinese yuan renminbi)

(Reporting by Melanie Burton; Editing by Joseph Radford)