US copper ends at 2-1/2-mth low despite strong GDP

NEW YORK, Jan 29 (Reuters) - U.S. copper futures closed at their lowest
since mid-November on Friday, as initial gains from stronger-than-expected
economic data were rolled back in the face of a rallying dollar and
persistent worries about tighter monetary policy in China.

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

* Benchmark copper for March delivery HGH0 slipped 4.55 cents to
settle at $3.0525 per lb on the New York Mercantile Exchange's COMEX
division.

* Lowest level on a settlement basis since Nov. 13.

* Biggest monthly decline since Dec. 2008.

* Range extended down from $3.1540 to $3.0490.

* COMEX estimated futures volume at 39,270 lots by 1 p.m. EST (1800
GMT). Final volume on Thursday hit 51,651 lots.

* Open interest fell by 1,803 lots to 135,529 contracts open as of Jan.
28.

* Copper losses buck surprisingly strong data showing U.S. economy grew
at a faster-than-expected 5.7 percent pace in the fourth quarter Midwest
business activity expand much more than expected in January.
[ID:nN28246399] [ID:nN29130270]

* Copper's initial bullish reaction to GDP data faded in face of
extended dollar rally, bearish inventory data, and fears of curtailed
economic growth in world's top metals consumer China - Adam Klopfenstein,
senior market strategist with Lind-Waldock.

* Copper down nearly 9 percent on the week as fears festered over the
impact of China's recent lending clampdown on metal demand.
[ID:nSGE60Q05X]

* Rising supply base bolsters weak demand outlook after another 875
tonnes entered London Metal Exchange (LME) warehouses on Friday.
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* Shanghai copper stockpiles rose 4 percent to 101,210 tonnes from
97,308 tonnes a week earlier. [ID:nBJD003462]

* COMEX copper stocks climbed 350 short tons to 103,510 short tons as
of Thursday.

* World No. 3 copper producer India sees demand up 7 percent this year,
fed by strong growth in the power, automobile, construction and
infrastructure sectors. [ID:nSGE60S0EY]

* LME copper for three-month delivery MCU3 ended down $144.50 at
$6,745.50 a tonne.
(Reporting by Chris Kelly; Editing by John Picinich)