* Copper lifts off 2012 low on weaker dollar * Copper falls for third month * Coming Up: U.S. Q1 GDP at 1230 GMT By Susan Thomas and Carrie Ho LONDON/SHANGHAI, May 31 (Reuters) - Copper rose on Thursday, recovering some of Wednesday's fall as the dollar fell, yet remained near its low for the year as markets remained mesmerized by Europe's debt crisis. Three-month copper on the London Metal Exchange was up 0.6 percent at $7,523 a tonne by 0916 GMT, after hitting $7,422.75 earlier, its lowest level since Dec. 29. Weak data on the U.S. property market has also hit base metals prices, but cautious expectations that government spending programmes in top metals consumer China may lift metals demand by year-end has helped to prop them up. Worries about the health of the global economy have already dragged copper prices down 11 percent this month, its third monthly fall. Prices are down more than 25 percent from a record high $10,190 hit last year. "Markets are fixated on the euro zone crisis and are likely to remain so. There's still plenty of scope for things to go either way," said BNP Paribas analyst Stephen Briggs. Concerns about Europe's debt crisis and the lack of any coordinated policy response have risen since Spain unveiled unconvincing plans to recapitalise nationalised lender Bankia, raising the possibility it could need outside help. Spain is the fourth-largest economy in the euro zone. There are fears that the Spanish government could become insolvent if it was left to bail out the nation's banks. The latest Greek polls also showed very similar support levels for parties for and against a bailout, heightening fears of a Greek exit from the euro zone. But in Ireland, opinion polls are pointing to a 'Yes' vote in a referendum on Europe's new fiscal treaty on Thursday. Expectations of an Irish vote in favour of the fiscal pact helped the euro recover from a near two-year low against the dollar, which also fell against a basket of currencies A weaker dollar makes commodities cheaper for holders of other currencies. UNCERTAINTIES "The uncertainties in Europe are keeping everyone cautious today. There is just too much that can potentially go wrong in the region right now and no one dares to go too long," said a Shanghai-based copper investor. Traders, however, said copper prices were still supported by hopes that growth supportive policies in big metals consumer China will buoy demand. "The stimulus package this time is much less than in 2009, but it is still logical to say that the spending programmes will create more demand for copper by the end of the year," the Shanghai-based copper investor said. Tin was down 0.3 percent at $19,700 from $19,770 at Wednesday's close while zinc rose 0.4 percent to $1,900 f rom $1,893. Lead was up 0.7 percent at $1,935 from $1,922 and aluminium was up 0.3 percent at $2,014 from $2,007. Nickel was up 0.9 percent at $16,460 from $16,300. Metal Prices at 0948 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2011 Ytd Pct move COMEX Cu 340.00 1.00 +0.29 344.75 -1.38 LME Alum 2012.50 5.50 +0.27 2020.00 -0.37 LME Cu 7526.75 -143.25 -1.87 7600.00 -0.96 LME Lead 1933.50 11.50 +0.60 2034.00 -4.94 LME Nickel 16453.00 153.00 +0.94 18650.00 -11.78 LME Tin 19720.00 -50.00 -0.25 19200.00 2.71 LME Zinc 1900.00 -14.00 -0.73 1845.00 2.98 SHFE Alu 15955.00 -25.00 -0.16 15845.00 0.69 SHFE Cu* 54850.00 -660.00 -1.19 55360.00 -0.92 SHFE Zin 14775.00 -95.00 -0.64 14795.00 -0.14 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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