METALS-Copper gives up gains as dollar rises to 13-month high

(Recasts, updates prices)

BEIJING, Aug 10 (Reuters) - London copper prices gave up early gains to trade lower on Friday, weighed down by a stronger dollar and slumping equities, even as the prospect of strikes at copper mines in Chile drew nearer.

The union at BHP's Escondida copper mine, the world's largest, says the company must improve its contract offer during a final phase of talks if it hopes to avoid a strike, while the main union at Lumina Copper's Caserones mine said a last round of labor negotiations had broken down and a strike was imminent.

However, the dollar index gained more than 0.6 percent to 96.103, its highest since July 2017, and global stock markets fell amid concerns over the plunging Turkish lira and Russian rouble. A stronger dollar makes metals more expensive for holders of other currencies.

"It would be foolish to expect everything to be plain sailing from here but as we exit the summer holiday/shutdown season the markets will start to become more realistic and to a greater extent stop simply following the equity markets for direction," Malcolm Freeman of Kingdom Futures wrote in a note.


* COPPER: Three-month copper on the London Metal Exchange fell 1.1 percent to $6,129 a tonne, as of 0741 GMT. The most traded October contract on the Shanghai Futures Exchange closed down 0.2 percent at 49,600 yuan ($7,239.29) a tonne but still notched a weekly gain of 1.1 percent.

* COPPER STOCKS: Copper inventories in warehouses monitored by the ShFE fell 11.3 percent from last Friday to 171,107 tonnes, the lowest since January 2018.

* SCRAP: China's move to impose a 25 percent import tariff on scrap copper from the United States, one of its biggest suppliers of the material, "is likely to see China importing more refined metal," ANZ said in a note.

* ALUMINIUM: Three-month aluminum on the LME slipped 0.5 percent to $2,058.50 a tonne, extending a 1.3 percent drop in the previous session. ShFE aluminum closed down 0.9 percent at 14,620 yuan a tonne.

* ALUMINIUM STOCKS: On-warrant stocks of aluminum available to the market in LME-registered warehouses have fallen to 832,775 tonnes, the lowest since 2007. <MALSTX-TOTAL>

* OPEN INTEREST: Market open interest in ShFE aluminum rose to its highest since April on Thursday. Long positions on the October contract increased by another 1,965 lots on Friday, while shorts fell by 1,040 lots.

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


Three month LME copper

Most active ShFE copper

Three month LME aluminum

Most active ShFE aluminum

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS ($1 = 6.8515 Chinese yuan)

(Reporting by Tom Daly; Editing by Gopakumar Warrier and Subhranshu Sahu)