MELBOURNE, Nov 13 (Reuters) - London copper rose on Monday from one month lows hit last week, as demand remained steady and the dollar wallowed below its peaks from last week.
* COPPER: London Metal Exchange copper edged up by 0.3 percent to $6,807 a tonne by 0148 GMT, reversing small losses from the previous session. Prices last week fell to the weakest in around a month at $6,761.50 a tonne.
* SHFE COPPER: Shanghai Futures Exchange copper was steady at 53,500 yuan ($8,057) a tonne. China's industrial output figures are due on Tuesday and markets will be watching for any sign of cooling demand for base metals, ANZ said.
* Chinese data this month is expected to show the world's second-biggest economy cooled further in October as policy makers harden efforts to reduce financial risks and foster long term sustainable growth.
* US POLICY: A Federal Reserve official said on Monday he expects to back an interest rate hike next month despite caution over the low-inflation "conundrum," since the U.S. central bank needs to prepare for any future economic shock.
* FREEPORT: The Indonesian unit of Freeport-McMoRan Inc has temporarily shut the main supply route to its Papua mine after a shooting incident, a spokesman said, amid escalating tensions between security forces and an armed rebel group in the area.
* COPPER INVESTORS: Hedge funds and money managers reduced their net long position in COMEX copper contracts in the week to Oct. 31, U.S. Commodity Futures Trading Commission data showed on Friday. Non-commercial net longs turned lower from what had been the strongest since February.
* CHINA: China will raise foreign ownership limits in financial firms in a step granting access to a tantalizing multi-trillion dollar financial services market, as the country seeks to position itself as a major global finance hub.
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* Asian shares stepped back in cautious early trade on Monday as investors look to see whether U.S. Republicans could hammer a tax reform deal quickly, while the British pound fell on growing doubts over Prime Minister Theresa May's leadership.
DATA AHEAD (GMT) 0700 Germany Wholesale price index Oct PRICES
BASE METALS PRICES 0140 GMT Three month LME copper 6807 Most active ShFE copper 53450 Three month LME aluminum 2113.5 Most active ShFE aluminum 15590 Three month LME zinc 3215 Most active ShFE zinc 25720 Three month LME lead 2523.5 Most active ShFE lead 19300 Three month LME nickel 12210 Most active ShFE nickel 99010 Three month LME tin 19510 Most active ShFE tin 143840
BASE METALS ARBITRAGE
LME/SHFE COPPER LMESHFCUc3 591.73 LME/SHFE ALUMINIUM LMESHFALc3 -728.81 LME/SHFE ZINC LMESHFZNc3 456.28 LME/SHFE LEAD LMESHFPBc3 -852.92 LME/SHFE NICKEL LMESHFNIc3 2798.07
($1 = 6.6399 Chinese yuan renminbi)
(Reporting by Melanie Burton; Editing by Gopakumar Warrier)