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RTRS:METALS-Copper down on U.S. tapering fears; China limits losses
 
* Copper tracks falls in emerging market equities
* China's economy on track for 7.5 pct growth - stats bureau
* Coming up: U.S. consumer confidence at 1400 GMT

By Maytaal Angel
LONDON, Aug 27 (Reuters) - Copper fell on Tuesday due to lingering concerns
about a tapering of U.S. monetary stimulus and falls in emerging market
equities, although signs of economic improvement in China underpinned prices.
The economy of the world's top metals consumer is showing clear signs of
stabilisation, helped by policy support and some improvement in global demand,
and is on track to meet the official 2013 growth target of 7.5 percent, the
government said.
In the wider markets, European and Asian equities fell on fears of possible
military action against Syria after U.S. comments holding Syrian President
Bashar al-Assad responsible for using chemical weapons against civilians.

Benchmark three-month copper on the London Metal Exchange fell 1.05
percent to $7,283 a tonne by 0921 GMT from the previous session on Friday.
London markets were closed on Monday for a bank holiday.
"Copper is correlated with emerging market equities, (where) there are fears
that as the Fed gets closer to tapering off quantitative easing, markets with
the weakest fundamentals will see outflows of hot money," said Gianclaudio
Torlizzi of metals consultancy T-Commodity.
He added, however: "Copper has found strong support thanks to China's
stabilisation. The (emerging market) selloff has been excessive. I would take
today's weakness as a buying opportunity."
Copper fell last week for the first week in four as a rebound spluttered
following an emerging market selloff. Copper has risen 11 percent from a
three-year trough touched in late June but is still down around 7 percent this
year.
In the United States, recent data on durable goods, single family home sales
and business spending on capital goods have been disappointing, muddling the
outlook for when the Federal Reserve may curb its quantitative easing programme.

Also, the Obama administration warned Congress on Monday that the United
States could run out of money to pay its bills soon after mid-October if
lawmakers do not move swiftly to raise the limit on government borrowing.

Last week, however, investors also were treated to upbeat manufacturing
numbers from the United States and more importantly China, which accounts for
about 40 percent of global copper demand.
"Chinese demand has recovered, in part by restocking, (but) end-demand has
also improved," Barclays Capital said in a note.
"Our economists still expect (Chinese) growth (to be) weaker by year-end.
Although prices could run further to the upside in the short term, we favour
selling into this strength to position for lower prices later in the year," it
added.
Metal Prices at 0922 GMT
Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T
Metal Last Change Pct Move End 2012 Ytd Pct
move
COMEX Cu 3.31 -0.01 -0.20 365.25 -99.09
LME Alum 1874.75 -18.25 -0.96 2073.00 -9.56
LME Cu 7283.25 -76.75 -1.04 7931.00 -8.17
LME Lead 2208.50 -1.50 -0.07 2330.00 -5.21
LME Nickel 14396.00 -129.00 -0.89 17060.00 -15.62
LME Tin 21430.00 -320.00 -1.47 23400.00 -8.42
LME Zinc 1972.00 -14.50 -0.73 2080.00 -5.19
SHFE Alu 14455.00 -25.00 -0.17 15435.00 -6.35
SHFE Cu* 52940.00 -440.00 -0.82 57690.00 -8.23
SHFE Zin 15090.00 -85.00 -0.56 15625.00 -3.42
** Benchmark month for COMEX copper
* 3rd contract month for SHFE AL, CU and ZN
SHFE ZN began trading on 26/3/07
Source