US copper ends away from 14-mth high on China data

NEW YORK, Nov 23 (Reuters) - U.S. copper futures eased away
from 14-month highs by the close on Monday, as rising
inventories and bearish import figures from China, the world's
top copper consumer, capped earlier dollar-driven gains.

For detailed report on global copper markets, click on
[MET/L]

* Copper for December delivery HGZ9 ended up 2.75 cents
at $3.1355 a lb on the New York Mercantile Exchange's COMEX
division.

* Range from $3.1280 to $3.1790, a new high dating back to
late September 2008.

* COMEX estimated futures volume at 34,261 lots by 1 p.m.
EST (1800 GMT). Final volume on Friday hit 35,364 lots.

* Open interest rose by 481 lots to 152,487 contracts open
as of Nov. 20.

* Copper backs away from earlier highs in response to
bearish Chinese import data that showed a 40 percent decline in
refined copper imports in October. [ID:nPEK295836]

* Data raises concern about Chinese demand moving forward -
David Meger, vice president and director of metals trading with
Vision Financial Markets in Chicago.

* Copper missing a key demand driven type component, but
remains driven by the weaker dollar and firmer equity markets -
Meger.

* Dollar down amid views U.S. interest rates will remain at
lower levels for some time and as strong U.S. housing data
dampens currency's safe-haven appeal. [USD/] [ID:nN23249040]

* Workers at Chile's Spence copper mine voted Monday to end
42-day strike. Owner BHP Billiton (BHP.AX) BLT.T expects
operations to return to normal output levels in January.
[ID:nN23225190] [ID:nN23209141]

* London Metal Exchange (LME) inventories rose by 3,050
tonnes to total 424,925 tonnes, up about 65 percent since the
middle of July, and at their highest since April.
<O#LME-STOCKS>

* COMEX copper warehouse stocks went up 951 short tons to
77,161 short tons as of Friday. CMWSU

* COMEX noncommercial net long position rose to 9,215 lots
in week ended Nov. 17, from 7,562 lots a week earlier. Money
managers upped net long copper position to 11,550 lots from
previous week's 9,117 lots. [ID:nN20448646]

* LME three-month copper MCU3 closed up $160 at $6,950 a
tonne, after hitting a 14-month peak at $7,010.
(Reporting by Chris Kelly; Editing by David Gregorio)
((chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters
Messaging: chris.kelly.reuters.com@reuters.net))
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Vols/open interest <NYMMTLFUT/VOI>

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