(Recasts, adds analyst comment)
By Melanie Burton
MELBOURNE, Oct 12 (Reuters) - London copper rose on Friday as data showed China imported near record volumes of the metal last month, with prices on track for their first weekly rise in three as turmoil on Wall Street weighed on the dollar.
China’s copper imports grew in September as the world’s top buyer of the commodity brought in more ores and metal to replace scrap after it tightened waste related imports this year.
“(Strong copper import data) backs up other data which has suggested fundamentals are strong, such as falling inventories and rising premiums,” ANZ said in a report.
However, potentially clouding the outlook, China also reported an unexpected acceleration in export growth in September and a record trade surplus with the United States, which could exacerbate an already-heated dispute between Beijing and Washington.
* LONDON COPPER: London Metal Exchange (LME) copper had climbed 0.6 percent to $6,278 a tonne by 0610 GMT, after closing flat in the previous session. It was set to log a 1.7 percent gain for the week.
* SHANGHAI COPPER: Shanghai Futures Exchange copper rose half-a-percent to 50,450 yuan ($7,312) a tonne. Open interest in China’s copper contract is the lowest in 15 months.
* IMPORTS: China’s imports of copper, which include anode, refined, alloy and semi-finished copper products, rose 24 percent from August to 521,000 tonnes last month, customs data showed on Friday.
* U.S. DOLLAR: The U.S. dollar traded at its lowest level this month against its major peers on Friday as declining U.S. treasury yields and further losses on Wall Street soured sentiment.
* ALUMINIUM: London Metal Exchange aluminium climbed 0.8 percent to $2,037 a tonne, moving further above the $2,000 level that has been its base since April. Prices were on course for a loss of nearly 4 percent this week, extending 2018’s drop to 11 percent.
* ALUMINA: Putting downward pressure on raw material costs, aluminium maker Norsk Hydro said it would resume half-production at its giant Brazilian alumina plant, just days after declaring it would shut down completely.
* TARIFFS: Canada does not hold out much hope that Washington will quickly lift tariffs that it imposed on steel and aluminium exports, and is resisting a U.S. push to agree to strict quotas, two sources familiar with the matter said.
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* Asian shares found a slightly firmer footing on Friday to set course for their first gains in two weeks, but the rout continued in Shanghai where shares hit lows last seen in 2014.
0900 Euro zone Industrial production Aug
1230 U.S. Import prices Sep
1230 U.S. Export prices Sep
1400 U.S. Univ of Michigan sentiment index Oct
*No fixed timing
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
ARBS ($1 = 6.8994 Chinese yuan renminbi)
Reporting by Melanie Burton Editing by Joseph Radford