SYDNEY, May 11 (Reuters) - Shanghai metals futures traded lower on Thursday as investors turned to equities and oil, where a U.S.-led rally was spilling into Asian markets.
* Three-month London Metal Exchange copper managed to find some support, trading 0.16 percent higher at $5,509 a tonne by 0110 GMT, reversing losses from the previous session. But the contract remained close to the four-month lows hit earlier this week as the market fretted about weak demand from China after data showed falling imports.
* The most-traded copper contract on the Shanghai Futures Exchange slipped 0.36 percent to 44,790 yuan ($6,490) a tonne.
SHANGHAI: ShFE aluminium, zinc, lead , nickel and tin were also lower at the start of trade.
COPPER WALKOUT: Workers at BHP Billiton‘s, Cerro Colorado copper mine in Chile will strike for 24 hours in the coming weeks to protest recent layoffs and the company’s general attitude toward miners.
EXCHANGE LISTENS: The head of Hong Kong Exchanges and Clearing (HKEx) rebuffed criticism of the bourse’s handling of the London Metal Exchange on Wednesday, but pledged to listen to core users of the world’s oldest metal market as it plans more reforms.
* GREEN ALUMINIUM: Aluminium is one of the materials benefiting from the greening of the world’s economy. Lightweight and durable, it has been making steady inroads into the transportation sector in particular and enjoys one of the strongest usage profiles of any industrial metal.
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* Asian stocks edged higher on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. Japan’s Nikkei advanced 0.1 percent. Oil prices rebounded in the U.S. after the largest one-week drop in U.S. crude inventories this year. This helped fuel a modest rise on Wall Street, while European stocks closed near their highest in almost two years.
DATA/EVENT AHEAD (GMT) 0600 Germany Wholesale price index Apr 0830 Britain Industrial output Mar 1100 Bank of England interest rate decision 1230 U.S. Weekly jobless claims
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
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 = 6.9011 Chinese yuan)
Reporting by James Regan; Editing by Amrutha Gayathri