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METALS-Base metals lose ground as dollar firms ahead of Trump address

(adds analyst comment, updates prices) BEIJING, Jan 30 (Reuters) - Most base metals gave up early gains on Tuesday due to a strengthening dollar, as investors awaited positive signals about infrastructure building in U.S. President Donald Trump's State of the Union address later in the day. A stronger dollar makes metals more expensive for holders of other currencies. "It is believed that (Trump's) infrastructure program will be a highlight of his State of the Union speech, raising hopes that U.S. demand growth will pick up," ANZ wrote in a note.

FUNDAMENTALS

* LME COPPER: Three-month copper on the London Metal Exchange was down 0.6 percent at $7,042 a tonne, as of 0408 GMT, after rising as much as 0.5 percent earlier in the session and ending flat on Monday.

* SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange fell 0.8 percent to 53,040 yuan ($8,376.10) a tonne by the mid-session interval.

* USD: The dollar traded above a recent three-year low against a basket of major currencies on Tuesday, having drawn some support from a rise in U.S. bond yields as traders awaited a U.S. Federal Reserve policy meeting for fresh catalysts.

* SHFE ALUMINIUM: Shanghai's most-traded March aluminum contract was the biggest loser in the base metals complex, falling 1.5 percent to 14,475 yuan a tonne, a level not seen since Dec. 15, as record-high stock levels in China continue to weigh on prices.

* CHINA: The former head of China's Anshan Iron and Steel Group (Ansteel) has been named the new chairman of metals group

China Minmetals Corp . * NORWAY: Norwegian aluminum maker Norsk Hydro

plans to transfer energy-saving technology from a pilot project to primary smelters in the next five to six years, boosting output and cutting costs, the company's head of technology told Reuters.

* TRADING PLACES: Singapore-based metals trader Kyen Resources said it was setting up a trading desk in London as it pushes to expand its recycled metals and concentrates trading business.

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

MARKETS NEWS

* Asian stocks retreated from record highs on Tuesday after a selloff in Apple shares knocked Wall Street lower, while the dollar found support as U.S. bond yields climbed to near four-year highs.

DATA/EVENT AHEAD (GMT)

0630 France Preliminary GDP Q4 0745 France Consumer spending Dec 1000 Euro zone GDP flash Q4 1000 Euro zone Business climate Jan 1000 Euro zone Consumer confidence final Jan 1300 Germany Consumer prices Jan 1400 U.S. Case-Shiller housing index Nov 1500 U.S. Consumer confidence Jan

U.S. Federal Reserve starts two-day policy meeting

PRICES

0408 GMT

Three month LME copper 7042 Most active ShFE copper 53030 Three month LME aluminum 2224 Most active ShFE aluminum 14475 Three month LME zinc 3524 Most active ShFE zinc 26860 Three month LME lead 2594.5 Most active ShFE lead 19535 Three month LME nickel 13680 Most active ShFE nickel 104410 Three month LME tin 21705 Most active ShFE tin 150170 LME/SHFE COPPER LMESHFCUc3 1042.59 LME/SHFE ALUMINIUM LMESHFALc3 -1857.59 LME/SHFE ZINC LMESHFZNc3 391.39 LME/SHFE LEAD LMESHFPBc3 -278.48 LME/SHFE NICKEL LMESHFNIc3 2063.6

($1 = 6.3323 Chinese yuan)

(Reporting by Tom Daly; Editing by Sherry Jacob-Phillips and Sunil Nair)