Nov 3 (Reuters) - Prices of industrial metals were largely higher on Tuesday, as robust factory data from the world’s biggest economies boosted confidence about the demand outlook.
Three-month copper on the London Metal Exchange rose 0.7% to $6,809.50 a tonne by 0255 GMT, zinc advanced 0.4% to $2,550 a tonne and nickel increased 0.6% to $15,250 a tonne, while aluminium dipped 0.1% to $1,864 a tonne.
The most-traded December copper contract on the Shanghai Futures Exchange rose 1.3% to 51,690 yuan ($7,727.38) a tonne, while aluminium advanced 0.6% to 14,745 yuan a tonne.
U.S. manufacturing activity accelerated more than expected in October, with new orders jumping to their highest level in nearly 17 years, while Chinese factory activity expanded the fastest in a decade and euro zone manufacturing also boomed, data showed on Monday.
However, trading volume was low as investors were cautious ahead of the U.S. Presidential election later on Tuesday.
* Chile’s Candelaria copper mine, owned by Canada’s Lundin Mining Corp, said on Monday it had submitted a new contract offer to a striking union in a bid to end a nearly month-long walk-off at the deposit.
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* Asian shares looked set to climb as investors shrugged off U.S. election jitters and took hope in strong factory output data in China, Europe and the United States.
0330 Australia RBA Cash Rate Nov
1500 US Factory Orders MM Sept
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 = 6.6892 yuan) (Reporting by Mai Nguyen; Editing by Krishna Chandra Eluri)
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