METALS-London copper edges up as China property stays strong

MELBOURNE, Nov 20 (Reuters) - London copper edged up on Monday after a report showing China's property sector, a major metals consumer, remained resilient in October.


* LME: Three-month copper on the London Metal Exchange edged up 0.2 percent to $6,791.50 a tonne by 0107 GMT, after closing with small 0.6 percent gains in the previous session. Prices have found support around the $6,713-$6,715 level, in line with a one-month low hit last week.

* SHFE: Shanghai Futures Exchange copper rose 0.4 percent to 53,150 yuan ($8,023) a tonne.

* CHINA PROPERTY: China's new home prices rose at a slightly faster pace in October after gains had held steady the previous month, as prices remained resilient in the face of falling sales and a tighter liquidity environment. 1/8 nL3N1NQ01M 3/8 China's housing market has seen a near two-year boom, giving the economy a major boost but stirring fears of a property bubble, with the government taking strong measures to curtail purchases.

* NEW CALEDONIA: Tsunami waves have been observed in New Caledonia after a magnitude 7 earthquake struck between the Pacific Islands on Monday, the Pacific Tsunami Warning Center said. Eramet said its New Caledonian nickel operations were not affected.

* LME nickel was flat after prices rallied by 1.8 percent on Friday as prices recover from their lowest in more than a month.

* INVESTORS: Hedge funds and money managers cut their net long position in copper futures and options to the lowest since July, in the latest week the U.S. Commodities Futures Trading Commission said on Friday.

* SHFE COPPER OPTIONS: The China Securities Regulatory Commission has approved an application from the Shanghai Futures Exchange (ShFE) to trade copper futures options, the official Shanghai Securities News reported on Sunday.

* Futures options for copper would be China's first for an industrial product and serve as a risk management tool in non-ferrous metals derivatives trading, the financial newspaper said, without providing a timeframe for the launch.

* For the top stories in metals and other news, click or


* Asian shares started the week on the back foot on Monday, pressured by a retreat on Wall Street amid tax reform uncertainty while the euro skidded after German coalition talks hit an impasse. DATA/EVENT AHEAD (GMT) 0700 Germany Producer prices Oct 1400 ECB President speaks to European Parliament committee 1500 U.S. Leading index for Oct PRICES

BASE METALS PRICES 0106 GMT Three month LME copper 6800 Most active ShFE copper 53210 Three month LME aluminum 2104 Most active ShFE aluminum 15410 Three month LME zinc 3170.5 Most active ShFE zinc 25265 Three month LME lead 2438 Most active ShFE lead 18635 Three month LME nickel 11575 Most active ShFE nickel 93810 Three month LME tin 0 Most active ShFE tin 143090



($1 = 6.6245 Chinese yuan renminbi)

(Reporting by Melanie Burton; editing by Richard Pullin)