METALS-London copper prices supported by resilient China property sector

(Updates prcies) MELBOURNE, Nov 20 (Reuters) - London copper steadied on Monday amid a slightly firmer dollar, supported after a report showed China's property sector, a major metals consumer, remained resilient last month. 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. "We are of a view that China's underlying fundamentals in the property sector remain sound," said Argonaut in a report. "This confirms our view that (any) commodity price rout during the weak winter season in China would be short-term ... We recommend buy on weakness."


* LME: Three-month copper on the London Metal Exchange was trading at $6,765.50 a tonne by 0700 GMT, down 0.2 percent and paring small 0.6-percent gains from 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 ended flat at 52,950 yuan ($7,980) a tonne.

* CURRENCIES: The euro hit a two-month low against the yen on Monday and eased against the dollar as German Chancellor Angela Merkel's efforts to form a three-way coalition government failed, raising concerns over political uncertainty in the euro zone's largest economy.

* NEW CALEDONIA: Eramet said its New Caledonian nickel operations were not affected after tsunami waves were observed in New Caledonia and Vanuatu after a magnitude 7 earthquake struck between the Pacific Islands on Monday.

* NICKEL: LME nickel slipped 0.6 percent, cutting into Friday's 1.8-percent advance and heading back towards one-month lows.

* PHILIPPINES: Philippine President Rodrigo Duterte has not lifted a ban on open pit mining, his spokesman said on Monday, amid plans by a government panel to seek the removal of the policy.

* 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.

* SHFE ALUMINIUM: Prices fell 2.1 percent, breaking below the 200-day moving average, with the chart picture deteriorating and signalling further losses. Prices have been supported by production cutbacks in China over winter.


* Asian shares pulled back on Monday, with investor sentiment hurt by a retreat on Wall Street and a slide in Chinese stocks, while the euro skidded after German coalition talks hit an impasse. PRICES

BASE METALS PRICES 0700 GMT Three month LME copper 6767 Most active ShFE copper 52950 Three month LME aluminium 2089.5 Most active ShFE aluminium 15130 Three month LME zinc 3159.5 Most active ShFE zinc 25165 Three month LME lead 2439 Most active ShFE lead 18670 Three month LME nickel 11585 Most active ShFE nickel 93840 Three month LME tin 19480 Most active ShFE tin 142650



($1 = 6.6350 Chinese yuan renminbi)

(Reporting by Melanie Burton; Editing by Richard Pullin and Joseph Radford)