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METALS-Copper steadies in thin trade above five week lows

MELBOURNE, Nov 16 (Reuters) - London copper was steady on Thursday, holding above a five-week low plumbed the previous session as markets calmed after a spate of China data showed its economy cooled in October.

FUNDAMENTALS

* LME COPPER: London Metal Exchange copper was flat at $6,771.50 a tonne by 0216 GMT with prices recovering from the one-month lows, after touching $6,713 a tonne on Wednesday, its weakest since Oct. 10.

* SHFE COPPER: Shanghai Futures Exchange copper slipped by 0.2 percent to 53,060 yuan ($7,998) a tonne.

* SHFE: Across other metals, nickel and lead both fell 2 percent in Shanghai in line with recent weakness in steel on worries that demand may be cooling alongside China's economy and heading into a seasonally lower period of consumption. Zinc, which has been supported by supply concerns, fell half a percent.

* DOLLAR: The dollar was on the defensive on Thursday as doubts on the prospects of U.S. tax reforms offset an uptick in underlying U.S. inflation while the Australian dollar hovered near four-month lows ahead of key local jobs data.

* INVESTORS: Barclays says total commodity investor assets under management (AUM) has trended steadily higher and is now in excess of $300 billion for the first time since 2013.

* CHINA: China's banking regulator has set new rules for the country's three policy banks to help rein in risks amid a broader tightening of controls over the financial sector.

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MARKETS NEWS

* Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat U.S. economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more U.S. rate hikes

DATA/EVENTS

0930 U.K. Retail sales Oct 1000 Euro Zone Consumer prices (revised) Oct 1330 U.S. Philadelphia FED business conditions Nov 1415 U.S. Industrial output Oct

PRICES

BASE METALS PRICES 0226 GMT Three month LME copper 6773 Most active ShFE 53050

copper

Three month LME 2122

aluminium

Most active ShFE 15590

aluminium

Three month LME zinc 3150 Most active ShFE zinc 25115 Three month LME lead 2430.5 Most active ShFE lead 18380 Three month LME nickel 11685 Most active ShFE 94640

nickel

Three month LME tin 19470 Most active ShFE tin 143270

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 631.42 LME/SHFE ALUMINIUM LMESHFALc3 -765.2 LME/SHFE ZINC LMESHFZNc3 411.9 LME/SHFE LEAD LMESHFPBc3 -948.4 LME/SHFE NICKEL LMESHFNIc3 2434.1

($1 = 6.6340 Chinese yuan renminbi)

(Reporting by Melanie Burton; editing by Richard Pullin)