November 24, 2017 / 1:32 AM / a year ago

METALS-Steady dollar stymies copper prices

SYDNEY, Nov 24 (Reuters) - Copper traded in a tight range on Friday, stymied by the U.S. Thanksgiving Day holiday and a stagnant greenback.

London copper edged higher for a fifth straight day overnight with the help of U.S. dollar weakness against other currencies. The dollar wobbled in thin trading in Asia, sidelining local investors hoping to boost positions with a stronger home currency.


* Three-month copper on the London Metal Exchange was largely flat at $6,964 a tonne by 0100 GMT.

* The most-traded copper contract on the Shanghai Futures Exchange started 0.07 percent higher at 54,090 yuan ($8,221.61) a tonne.

* STOCKS: Copper inventories in LME-registered warehouses fell 7,200 tonnes to 226,275 tonnes. Stocks have fallen almost 30 percent since mid-September, pointing to tighter supply and supporting prices. MCUSTX-TOTAL

* ESCONDIDA: Unionized workers at Chile’s Escondida copper mine, the world’s largest, started a 24-hour strike on Thursday to protest against recent layoffs.

* PERU STRIKE: Workers for the two largest unions at Southern Copper Corp in Peru started an indefinite strike, though the company said operations were unaffected.

* SHFE METALS: ShFE metals were mostly weaker, with only tin in positive territory, up a modest 0.14 percent.

* LME UP: In contrast, LME metals were slightly firmer across the board, with nickel hitting a 10-day high of 12,010 a tonne.

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* Asian shares hovered below their 10-year peak on Friday while investors viewed Chinese shares with caution after their big fall the previous day.

DATA AHEAD (GMT) 0900 Germany Ifo business climate Nov 1445 U.S. Markit manufacturing PMI flash Nov


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 = 6.5790 Chinese yuan)

Reporting by James Regan; Editing by Amrutha Gayathri

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