SHANGHAI, Dec 22 (Reuters) - Copper opened steady on Tuesday, as optimism about the market outlook for next year allowed the market to defy pressure from a strong dollar, which hit a 7-month high versus the yen. FUNDAMENTALS * Shanghai's benchmark third-month copper futures contract SCFc3 edged down 0.1 percent to 55,630 yuan a tonne by 0116 GMT. * Three-month copper on the London Metal Exchange MCU3 shed $15 to $6,925 a tonne. * China's refined copper imports in November rose nearly 15 percent from a month earlier to 194,388 tonnes, customs data showed. [ID:nBJI002189] * For a table of China's November base metals trade, click [ID:nTOE5BL00S] * LME aluminium edged down $13 to $2,255 a tonne, and Shanghai aluminium SAFc3 rose 0.7 percent to 16,385 yuan a tonne. * U.S. aluminum producer Alcoa Inc (AA.N: Quote, Profile, Research) has made a big bet on the metal rebounding from the recession with an investment in a new Saudi Arabian complex after a year of drastic output and workforce cuts, analysts said. [ID:nN21239050] MARKET NEWS * The dollar hit a 7-week high against the yen on Tuesday as traders bought back the greenback after selling it heavily for most of the year, bracing for U.S. economic growth to pick up steam in 2010. [USD/] * U.S. stocks rose on Monday, with the Nasdaq hitting a 15-month high after a healthcare reform bill advanced in the Senate and brokerages upgraded two Dow components on improving profit prospects. [.N] DATA/EVENTS * The following data is expected on Tuesday: - UK final GDP for Q3 (0930 GMT) - UK current account balance Q3 (0930 GMT) - Euro zone industrial orders for Oct (1000 GMT) - U.S. GDP final Q3 (1330 GMT) - U.S. PCE prices, final Q3 (1330 GMT) - U.S. existing home sales for Nov (1500 GMT) - U.S. Oct home prices (1500 GMT) RELATED NEWS > Papuans threaten to block Indonesia Freeport's m[ID:nN21251480] > CFTC misses deadline on position limits decision[ID:nN21248823] > Alcoa bets on aluminum rebound with Saudi projec[ID:nN21239050] > Huge aluminum project stirs Paraguay investment [ID:nN21233116] PRICES Base metals prices at 0116 GMT Metal Last Change Pct Move End 2008 Pct chg 09 LME Cu 6925.00 -15.00 -0.22 3060.00 126.31 SHFE Cu* 55630.00 -70.00 -0.13 23840.00 133.35 LME Alum 2255.00 -13.00 -0.57 1535.00 46.91 SHFE Alum* 16385.00 110.00 +0.68 11540.00 41.98 COMEX Cu** 314.05 0.00 +0.00 139.50 125.13 LME Zinc 2435.00 -3.00 -0.12 1208.00 101.57 SHFE Zinc 19275.00 -30.00 -0.16 10120.00 90.46 LME Nickel 17900.00 0.00 +0.00 11700.00 52.99 LME Lead 2315.00 5.00 +0.22 999.00 131.73 LME Tin 15775.00 -125.00 -0.79 10700.00 47.43 LME/Shanghai arb^ -312 Dollar/yuan 6.8275 \ 6.8285 ** 1st contract month for COMEX copper * 3rd contact month for SHFE aluminium, copper and zinc ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month (Reporting by Rujun Shen and Edmund Klamann; Editing by Michael Urquhart)

Source