November 27, 2017 / 2:17 AM / a year ago

METALS-Copper hits 1-month top above $7,000 on steady demand

    MELBOURNE, Nov 27 (Reuters) - London copper touched a
one-month high above $7,000 a tonne on Monday, amid signs of
resilience in China's industrial sector that suggested a
cooling, but still healthy, appetite for metals. 
    * LME COPPER: London Metal Exchange copper hit
$7,024 a tonne, its highest in a month, and is on track for a 26
percent annual gain, which would be its biggest since 2010. The
metal eased to be flat at $7,005 a tonne by 0146 GMT, still
holding a half-percent advance from the previous session.
    * SHFE COPPER: Shanghai Futures Exchange copper
rose 0.7 percent to 54,500 yuan ($8,252) a tonne, having struck
its highest in around three weeks. 
    * OPEN INTEREST: Open interest in Shfe's January copper
contract is the highest in 18 months, which as prices have
generally risen suggests bets that prices will scale new heights
early next year. 
    * CHINA ECONOMY: Profits earned by China's industrial
companies in October rose 25.1 percent from a year earlier, the
statistics bureau said on Monday, slowing from a 27.7 percent
gain in September.
    * STRIKE CHILE: Unionized workers at BHP Billiton Plc's
 Escondida copper mine in Chile, the world's
largest, ended a 24-hour strike on Friday but could put down
their tools again next week over the company's planned layoffs,
the union said. 
    * STRIKE PERU: Workers for the two largest unions at
Southern Copper Corp in Peru said on Wednesday they had
started an indefinite strike, demanding a fair share of mining
profits, while the company said the stoppage had not affected
    * FREEPORT: Indonesia's Ministry of State-Owned Enterprises,
tipped to oversee an acquisition of a majority stake in the
local unit of Freeport-McMoRan Inc, has "no clear
structure" yet for the deal, a ministry official said on Friday.

    * CHINA DEBT: For years China's top officials have touted
their ambitious policy priority to wean the world's
second-largest economy off high levels of debt, but there is not
much to show for it.
    * CHINA INDUSTRIALS: Profits earned by China's industrial
companies in October rose 25.1 percent from a year earlier, the
statistics bureau said on Monday, slowing from a 27.7 percent
gain in September.
    * For the top stories in metals and other news, click       
    * Major global and U.S. stock indices set fresh all-time
highs on Friday, buoyed by a bright business outlook and strong
corporate earnings, while the economy's strength in continental
Europe lifted the euro to a two-month high against the dollar.
    1500   U.S.  New home sales Oct
    1530   U.S. Dallas Fed manufacturing index Nov    
 BASE METALS PRICES                 0141 GMT         
 Three month LME copper                          7010
 Most active ShFE copper                        54560
 Three month LME aluminium                     2127.5
 Most active ShFE aluminium                     15095
 Three month LME zinc                          3221.5
 Most active ShFE zinc                          25475
 Three month LME lead                            2480
 Most active ShFE lead                          18640
 Three month LME nickel                         12005
 Most active ShFE nickel                        96560
 Three month LME tin                            19400
 Most active ShFE tin                          143120
 BASE METALS ARBITRAGE                               
 LME/SHFE COPPER                LMESHFCUc3     518.98
 LME/SHFE ALUMINIUM             LMESHFALc3    -1227.6
 LME/SHFE ZINC                  LMESHFZNc3      312.3
 LME/SHFE LEAD                  LMESHFPBc3    -1081.3
 LME/SHFE NICKEL                LMESHFNIc3     2134.3

($1 = 6.6043 Chinese yuan renminbi)

 (Reporting by Melanie Burton; editing by Richard Pullin)
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