SINGAPORE, Dec 31 (Reuters) - London copper inched up on
Monday and was on track for an annual rise of 4 percent, but
concerns about the absence of a deal to avert a U.S. 'fiscal
cliff' even as the deadline draws near is expected to keep a lid
* Three-month copper on the London Metal Exchange
inched up 0.3 percent to $7,907 a tonne by 0101 GMT, but was
headed for a 1 percent drop this month.
* The most-traded April copper contract on the Shanghai
Futures Exchange edged down 0.3 percent to 57,520 yuan
a tonne, headed for a monthly rise of 1 percent and annual gain
of nearly 5 percent.
* The U.S. Senate adjourned for the day on Sunday as
Republicans and Democrats remained at odds over a deal to
prevent taxes for all Americans from rising on New Year's Day.
The Senate will reconvene at 1600 GMT on Dec. 31.
* Investors will watch China's official purchasing managers'
index (PMI) due at 0100 GMT on Jan. 1, which is expected to show
China's factory activity in December probably expanded at its
fastest pace in eight months.
* Hedge funds and money managers had slashed the size of
their net long positions in U.S. copper futures and options by
nearly 40 percent in the week ended Dec. 24, the U.S. Commodity
Futures Trading Commission said.
* For the top stories in metals and other news, click , or
* Equity futures were slightly higher on Sunday night as
talks continued in Washington over resolving the 'fiscal cliff.'
* The dollar inched down against a basket of currencies on
Monday, after rising to a two-week high in the previous session
as uncertainty about the U.S. fiscal talks drove investors to
seek safety in the greenback.
0145 China HSBC Mfg PMI Final Dec 2012 CNPMIC=ECI
1530 US Dallas Fed Texas manufacturing index for December
Base metals prices at 0101 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 7907.00 21.00 +0.27 4.04
SHFE CU FUT APR3 57520 -160 -0.28 3.90
HG COPPER MAR3 359.70 0.75 +0.21 4.69
LME Alum 2066.00 3.00 +0.15 2.28
SHFE AL FUT MAR3 15305 -40 -0.26 -3.41
LME Zinc 2055.25 2.75 +0.13 11.40
SHFE ZN FUT MAR3 15460 -85 -0.55 4.49
LME Nickel 17200.00 0.00 +0.00 -8.07
LME Lead 2323.00 -12.00 -0.51 14.15
SHFE PB FUT 15095.00 -155.00 -1.02 -1.24
LME Tin 23300.00 0.00 +0.00 21.35
LME/Shanghai arb^ 217
Shanghai and COMEX contracts show most active months
^ LME 3-month copper in yuan, including 17 pct VAT, minus SHFE third month
(Reporting by Rujun Shen; Editing by Himani Sarkar)
Keywords: MARKETS METALS/
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