US copper steadies, bucks bearish impact from data

NEW YORK, Nov 6 (Reuters) - U.S. copper futures steadied at
slightly lower levels Friday morning, despite disappointing
employment data that showed the unemployment rate rose above 10
percent for the first time in more than 26 years.

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

* Copper for December delivery HGZ9 down 1.55 cents at
$2.9415 a lb by 10:45 a.m. EST (1545 GMT) on the New York
Mercantile Exchange's COMEX division.

* Range from $2.9250 to $3.0045.

* COMEX estimated volume at 20,088 lots by 10 a.m.

* Copper holds near unchanged level in sideways
consolidation trade despite weak jobs data - Matthew Zeman,
head of trading with LaSalle Futures Group in Chicago.

* U.S. employers cut 190,000 jobs in October. Unemployment
rose to 10.2 percent. [ID:nN06178752] and [ID:nN06177960]

* Revised job losses for August and September showing
91,000 fewer jobs were lost than previously expected providing
mild support - Bob Haberkorn, Lind-Waldock senior market
strategist.

* Copper's steadier price action bucks across-the-board
supply builds in global warehouses.

* London Metal Exchange warehouse stocks rose by 5,750
tonnes to 385,575 tonnes on Friday, their highest level since
early May. [LME-STOCKS]

* Copper stocks in warehouses monitored by the Shanghai
Futures Exchange rose 1,440 tonne to 104,275 tonnes, their
highest since late April 2004. [ID:nS06402192]

* COMEX copper warehouse stocks added another 568 short
tons on Thursday, bringing total warehouse levels to 64,160
short tons. [CMWSU]

* Repair work at BHP Billiton's (BHP.AX) (BLT.L) Olympic
Dam uranium and copper mine in Australia is on track for a
resumption of full production between January and March.
[ID:nSYU009008]

* In London, LME three-month copper MCU3 traded at $6,490
a tonne, down $41 from Thursday's kerb close.
(Reporting by Chris Kelly; Editing by Walter Bagley)