(Recasts first paragraph, updates prices)
NEW DELHI, June 26 (Reuters) - Copper futures erased
losses to turn slightly higher on Wednesday although a stronger
dollar and weak demand outlook in top consumer China kept gains
in check.
Three-month copper on the London Metal Exchange was
up 0.1% at $9,580 per metric ton as of 0716 GMT.
The U.S. dollar kept downward pressure on the yen and yuan
as traders awaited the release of U.S. price data at the end of
the week.
A firmer dollar makes greenback-priced metals more expensive
to holders of other currencies.
The most-traded July copper contract on the Shanghai Futures
Exchange was down 0.4% at 78,480 yuan ($10,800.25) a
ton.
"The red metal has been under pressure in recent days
following weak economic data," ANZ Research said in a note.
"The global outlook for manufacturing remains poor after
flash PMIs in Europe and the US. This has been compounded by
rising inventories for metals such as aluminium, copper and
nickel."
LME aluminium was 0.04% higher at $2,497 a ton,
nickel rose 0.6% to $17,270, zinc was up 1% to
$2,900, lead eased 0.2% to $2,205.5, and tin
fell 1.9% at $31,630.
SHFE aluminium eased 0.2% to 20,320 yuan a ton,
nickel gained 0.9% to 136,040 yuan, lead was
up 2% to 19,240 yuan while zinc was up 1.8% to 24,130
yuan and tin slumped 2% to 267,200 yuan.
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DATA/EVENTS (GMT)
1000 France Unemp Class-A SA May
1400 US New Home Sales-Units May
($1 = 7.2665 Chinese yuan renminbi)
(Reporting by Neha Arora; Editing by Janane Venkatraman and
Mrigank Dhaniwala
)