News: RIO METALS-Copper extends gains amid persistent dollar weakness

BEIJING, Jan 23 (Reuters) - Copper prices continued to climb on Tuesday amid a persistent weak dollar, even as official data showed top producer China churned out a record volume of refined copper in December.

FUNDAMENTALS

• LME COPPER: Three-month copper on the London Metal Exchange CMCU3 rose 0.3 percent to $7,090 a tonne by 0153 GMT, extending its 0.4 percent gain in the previous session and on course for its highest close in a week.
• SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange SCFcv1 rose 0.2 percent to 53,700 yuan ($8,397.19) a tonne.
• USD: The dollar index <.DXY> fell 0.1 percent, with the currency remaining near three-year lows after a short-lived rally following the deal to re-open the U.S. government. A weak dollar makes metals cheaper for holders of other currencies and supports prices.
• CHINA: China's refined copper output jumped by 16.7 percent year-on-year to a record high in December, as smelters looked to churn out as much metal as possible ahead of a fall in treatment charges for copper concentrate.
• GERMANY: Aurubis AG , Europe's biggest copper smelter, said on Monday it had agreed to take full control of German copper wire and rod maker Deutsche Giessdraht by acquiring the 40 percent stake held by Chile's Codelco.

• MONGOLIA: Global miner Rio Tinto , (RIO) will set up a new office in the Mongolian capital, separate from its giant Oyu Tolgoi project, to focus on exploration and local ties, strengthening its commitment to one of the world's greatest copper prospects.
• CRYPTOCURRENCIES: Swiss-based commodities fund Tiberius Group plans to make a foray into cryptocurrencies with the launch of what may be the first digital money underpinned by physically deliverable metals including industrials such as aluminium and copper.
• ALUMINIUM: China's central Henan province churned out more aluminium than neighbouring Shandong for the first time in years, becoming the nation's top-producing region, data showed on Monday.
• For the top stories in metals and other news, click [TOP/MTL] or [MET/L]

  MARKETS NEWS

• Asian stocks advanced on Tuesday after U.S. senators' deal to end a three-day government shutdown sent Wall Street's main indexes to record highs and kept the dollar well supported. [MKTS/GLOB]

  DATA AHEAD (GMT) 1000 Germany ZEW economic sentiment Jan 1500 U.S. Richmond Fed composite index Jan 1500 Euro zone Consumer confidence flash PRICES BASE METALS PRICES 0153 GMT Three month LME copper CMCU3 7090 Most active ShFE copper SCFcv1 53700 Three month LME aluminium CMAL3 2240.5 Most active ShFE aluminium SAFcv1 14670 Three month LME zinc CMZN3 3413 Most active ShFE zinc SZNcv1 26075 Three month LME lead CMPB3 2610 Most active ShFE lead SPBcv1 19525 Three month LME nickel CMNI3 12715 Most active ShFE nickel SNIcv1 98090 Three month LME tin CMSN3 20700 Most active ShFE tin SSNcv1 146420 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 839.31 LME/SHFE ALUMINIUM LMESHFALc3 -1979.58 LME/SHFE ZINC LMESHFZNc3 239.82 LME/SHFE LEAD LMESHFPBc3 -612.05 LME/SHFE NICKEL LMESHFNIc3 1968.13 ($1 = 6.3950 Chinese yuan)

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