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METALS-Copper hits 1-month top above $7,000 on steady demand

MELBOURNE, Nov 27 (Reuters) - London copper touched a one-month high above $7,000 a tonne on Monday, amid signs of resilience in China's industrial sector that suggested a cooling, but still healthy, appetite for metals.

FUNDAMENTALS

* LME COPPER: London Metal Exchange copper hit $7,024 a tonne, its highest in a month, and is on track for a 26 percent annual gain, which would be its biggest since 2010. The metal eased to be flat at $7,005 a tonne by 0146 GMT, still holding a half-percent advance from the previous session.

* SHFE COPPER: Shanghai Futures Exchange copper rose 0.7 percent to 54,500 yuan ($8,252) a tonne, having struck its highest in around three weeks.

* OPEN INTEREST: Open interest in Shfe's January copper contract is the highest in 18 months, which as prices have generally risen suggests bets that prices will scale new heights early next year.

* CHINA ECONOMY: Profits earned by China's industrial companies in October rose 25.1 percent from a year earlier, the statistics bureau said on Monday, slowing from a 27.7 percent gain in September.

* STRIKE CHILE: Unionized workers at BHP Billiton Plc's Escondida copper mine in Chile, the world's largest, ended a 24-hour strike on Friday but could put down their tools again next week over the company's planned layoffs, the union said.

* STRIKE PERU: Workers for the two largest unions at Southern Copper Corp in Peru said on Wednesday they had started an indefinite strike, demanding a fair share of mining profits, while the company said the stoppage had not affected operations.

* FREEPORT: Indonesia's Ministry of State-Owned Enterprises, tipped to oversee an acquisition of a majority stake in the local unit of Freeport-McMoRan Inc, has "no clear structure" yet for the deal, a ministry official said on Friday.

* CHINA DEBT: For years China's top officials have touted their ambitious policy priority to wean the world's second-largest economy off high levels of debt, but there is not much to show for it.

* CHINA INDUSTRIALS: Profits earned by China's industrial companies in October rose 25.1 percent from a year earlier, the statistics bureau said on Monday, slowing from a 27.7 percent gain in September.

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MARKETS NEWS

* Major global and U.S. stock indices set fresh all-time highs on Friday, buoyed by a bright business outlook and strong corporate earnings, while the economy's strength in continental Europe lifted the euro to a two-month high against the dollar.

DATA/EVENTS

1500 U.S. New home sales Oct 1530 U.S. Dallas Fed manufacturing index Nov

PRICES

BASE METALS PRICES 0141 GMT Three month LME copper 7010 Most active ShFE copper 54560 Three month LME aluminium 2127.5 Most active ShFE aluminium 15095 Three month LME zinc 3221.5 Most active ShFE zinc 25475 Three month LME lead 2480 Most active ShFE lead 18640 Three month LME nickel 12005 Most active ShFE nickel 96560 Three month LME tin 19400 Most active ShFE tin 143120

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 518.98 LME/SHFE ALUMINIUM LMESHFALc3 -1227.6

2

LME/SHFE ZINC LMESHFZNc3 312.3 LME/SHFE LEAD LMESHFPBc3 -1081.3

6

LME/SHFE NICKEL LMESHFNIc3 2134.3

($1 = 6.6043 Chinese yuan renminbi)

(Reporting by Melanie Burton; editing by Richard Pullin)