Copper mired near two-month low
MELBOURNE, Sept 12 (Reuters) - London copper was stuck near its weakest in two months on Monday as the dollar held gains and as investors turn increasingly bearish on the metal given prospects for rising supply.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange was trading flat at $4,630.50 a tonne by 0043 GMT, following 0.7-percent losses from the previous session.
* Shanghai Futures Exchange copper edged down 0.2 percent to 36,540 yuan ($5,472) a tonne.
* U.S. Federal Reserve policymakers on Friday headed towards their policy meeting later this month divided on whether a rate rise is in the offing, with some of the permanent voting members appearing wary of supporting an immediate hike.
* Lundin Mining could double zinc production at its Neves-Corvo mine in Portugal as a big rally in prices and looming deficit of the metal used to rust-proof steel have created the right conditions for an expansion, its chief executive said.
* Chile's state-owned copper miner Codelco said late on Friday that unionized workers at its small Salvador copper mine have accepted a wage offer and ended a strike, which had been ongoing since Monday.
* Hedge funds and money managers speculators sharply boosted their net short position in copper futures and options, in the week to Sept. 6, U.S. Commodity Futures Trading Commission data showed on Friday.
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MARKETS NEWS
* Asian shares looked set to skid on Monday with investors rattled by rising bond yields and talk the Fed might be serious about lifting U.S. interest rates as early as next week.
DATA/EVENTS
No major data expected
PRICES
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
($1 = 6.6778 Chinese yuan renminbi) (Reporting by Melanie Burton; Editing by Joseph Radford)
