METALS-Copper heads for weekly gains; traders await China stimulus cues

(Updates prices after Shanghai market close) Dec 6 (Reuters) - Copper prices rose on Friday and were headed for weekly gains amid a subdued U.S dollar, while traders looked for further signs of stimulus measures from top consumer China. Three-month copper on the London Metal Exchange (LME) CMCU3 was up 0.5% at $9,116.5 per metric ton by 0715 GMT and added 1.2% for the week. The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 closed 0.2% higher at 74,730 yuan ($10,293.25) a ton and gained 1% for the week. The U.S. dollar rally continued to cool, making metals more affordable for other currency holders. USD/ Attention is on China's Central Economic Work Conference meeting this month. So far, investors have been disappointed about the lack of aggressive fiscal stimulus measures to boost the country's sluggish economy. "Prices have been range-bound as there haven't been any fresh catalysts. The market wants to see massive fiscal stimulus measures. But, I think Chinese policymakers will hold back till they gain more clarity on (Donald) Trump's strategy," said Kelvin Wong, senior market analyst at OANDA. U.S. President-elect Trump has pledged to impose "an additional 10% tariff" on imports from China. "Flagging demand in China caused by trade tariffs could see a shift in Chinese stimulus to drive domestic demand, or there could be a stronger recovery in developed markets," Macquarie analysts said. LME aluminium CMAL3 lost 1.1% to $2,611 a ton, tin CMSN3 steadied at $29,170, lead CMPB3 gained 0.2% to $2,102.5, zinc CMZN3 fell 0.3% to $3,108 while nickel CMNI3 advanced 0.3% to $16,015. SHFE aluminium SAFcv1 fell 1.3% to 20,310 yuan a ton, nickel SNIcv1 shed 0.1% to 126,320 yuan, tin SSNcv1 was flat at 243,920 yuan, while zinc SZNcv1 increased 0.3% to 25,495 yuan and lead SPBcv1 firmed 0.9% to 17,770 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich and Sonia Cheema) (([email protected];)) (( For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))