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RTRS:METALS-Copper near 1-month low on demand worry, higher dollar
 
* Escondida workers to vote on bonus offer
* Dollar rise after Japanese authorities intervention
* Coming up: U.S. job claims, 1230 GMT

By Silvia Antonioli
LONDON, Aug 4(Reuters) - Copper hit its lowest price in almost a month on
Thursday, as slower economic growth fuelled worries over metals consumption and
as the dollar rose after Japanese authorities intervened in the market and sold
yen, but a strike at the world's largest mine increased supply fears and limited
losses.
Three-month copper on the London Metal Exchange fell 0.63 percent to
$9,475.50 a tonne by 1031 GMT from a last bid at $9,530 on Wednesday.
Earlier, the metal used in power and construction dropped to its lowest
since July 6 at $9,450 a tonne.
Tin and zinc hit their lowest levels since July 12 at $25,800 a tonne and
$2,341 a tonne, respectively.
"The whole global macro picture is slowing down; the U.S. and Chinese
figures were pretty weak...it's a worrying time for markets and that reflects on
base metals," said Standard Chartered analyst Daniel Smith.
A string of weak economic data from the United States and China showed the
health of the global economy is at risk this may dent demand for industrial
metals.
On top of that, a deepening debt crisis in Europe also contributed to reduce
investors' risk appetite for commodities perceived as riskier, such as
industrial metals.
A stronger U.S. currency was also weighing on metals by making dollar-priced
commodities costlier for holders of other currencies.
The dollar rose 4 percent on the day against the yen as traders cited more
yen selling by the Japanese authorities to keep the U.S. currency above the key
psychological 80 yen level.
Continued strike action at the world's top copper mine and contagion fears,
however, where lending support.
Chile's Escondida will vote on Thursday on a bonus offer aimed at ending a
14-day strike that has raised the spectre of more unrest at other mines.

The world's top copper miner, Codelco , sees some risk of strike
action spreading in Chile.
The union representing workers at Freeport McMoran Copper & Gold's
giant Indonesian mine, Grasberg, could also strike again if its demands of a
20-fold pay rise are not met.
"Copper ore grades are falling and mine strikes are supporting copper... all
this tightens up the market," Smith said.
Also supporting some base metals is improving buying interest from top
consumer China.
"Demand in China is pretty good on the whole," Smith said.
"It's good mainly for aluminium, as when the differential between copper and
aluminium (prices) is high people switch to aluminium for tubes, wire,
cables...", he added.
Aluminium was trading at $2,499 from $2,524.
Highlighting bullish demand for the metal, used in packaging and transport,
aluminium premiums remain at or close to all-time record levels in all major
regional markets, analysts said.
"The aluminium industry continues to carry historically high stock levels,
but access to those stocks continues to be limited by carry trades, which are
still viable in current market conditions, and by de facto limits on load out
rates from LME warehouses," Macquarie said in a note.
"In the meantime, the balance between new metal supply entering the market
and demand remains quite tight."
Tin was at $25,803, from $26,300 at Wednesday's close, while zinc
, used to galvanize steel, was at $2,349 from $2,377.
Battery material lead was at $2,507 from $2,522 and nickel
was at $23,642 from $23,805.

Metal Prices at 1033 GMT
Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T
Metal Last Change Pct Move End 2010 Ytd Pct
move
COMEX Cu 430.05 -2.55 -0.59 444.70 -3.29
LME Alum 2525.00 1.00 +0.04 2470.00 2.23
LME Cu 9530.00 -150.00 -1.55 9600.00 -0.73
LME Lead 2522.00 0.00 +0.00 2550.00 -1.10
LME Nickel 23805.00 0.00 +0.00 24750.00 -3.82
LME Tin 26300.00 0.00 +0.00 26900.00 -2.23
LME Zinc 2376.50 -0.50 -0.02 2454.00 -3.16
SHFE Alu 18135.00 -385.00 -2.08 16840.00 7.69
SHFE Cu* 71610.00 -450.00 -0.62 71850.00 -0.33
SHFE Zin 18250.00 -145.00 -0.79 19475.00 -6.29
** Benchmark month for COMEX copper
* 3rd contract month for SHFE AL, CU and ZN
SHFE ZN began trading on 26/3/07
Source