METALS-London metal prices rise on drop in U.S. dollar

MELBOURNE, Jan 15 (Reuters) - Base metals on the London Metal Exchange climbed on Monday, buoyed as the U.S. dollar came under pressure from expectations the European Central Bank may soon start trimming monetary stimulus.


* COPPER: LME copper had risen 0.7 percent to $7,158.50 a tonne by 0117 GMT, reversing small losses from Friday. Prices have ping-ponged in a roughly $7,070-$7,315 range since late December given resilient China demand.

* DOLLAR: The U.S. dollar wallowed at three-year lows against a basket of currencies on Monday, while the euro took a breather after soaring on hopes that ECB policymakers were gearing up to further trim their monetary stimulus. A weaker dollar buoys demand for commodities as it makes them cheaper for buyers paying with other currencies.

* Shanghai Futures Exchange copper cut earlier losses to 0.2 percent at 54,550 yuan ($8,443) a tonne.

* LME zinc extended Friday's gains to hit its highest in a more than a decade at $3,414.50 a tonne. A dearth of mining investment in recent years has resulted in a shortage of the refined metal used to galvanize steel.

* LME aluminum jumped 1.1 percent to a 10-day peak at $2,239 a tonne. It reached $2,290.50 a tonne in late December, which was its highest in more than four years, partly after output cuts in top producer China eroded global supply.

* PERU: Damage in world No. 2 copper producer Peru appeared limited after an earthquake with a magnitude of 7.3 struck on Sunday. No victims have been reported, the governor of Peru's Arequipa region said on Twitter.

* CHINA DEMAND: China's commodities buying spree eased slightly in December, with copper, iron ore and crude oil imports all falling from bumper levels a month earlier, the latest sign that Beijing's anti-smog crackdown is slowing industrial activity.

* INVESTORS: Hedge funds and money managers trimmed a net long position in COMEX copper contracts in the week to Jan. 9, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

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* Euro Zone Trade data for Nov at 1000 GMT PRICES

BASE METALS PRICES 0134 GMT Three month LME copper 7152 Most active ShFE copper 54530 Three month LME aluminum 2238 Most active ShFE aluminum 15190 Three month LME zinc 3410 Most active ShFE zinc 26300 Three month LME lead 2552.5 Most active ShFE lead 19125 Three month LME nickel 12730 Most active ShFE nickel 99450 Three month LME tin 20265 Most active ShFE tin 145440



($1 = 6.4607 Chinese yuan renminbi)

(Reporting by Melanie Burton; Editing by Joseph Radford)