METALS-Shanghai copper seen opening steady on LME, dollar

SHANGHAI, Nov 5 - Shanghai copper is likely to open steady after London metal rose 1.7 percent, with attention back on the dollar following the U.S. Federal Reserve's decision to keep interest rates near zero for an extended period.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange rose $110 to close to $6,570 a tonne on Wednesday, and rose further to $6,577 in after-hours trade.

* When Shanghai closed, LME copper stood at $6,578 a tonne.

* The U.S. Federal Reserve on Wednesday decided to keep interest rates unchanged near zero, even as it expressed confidence in the U.S. economy.

* Supply-side concerns remain, as workers may go on strike at Antamina, a major copper pit in Peru, if contract talks with the company fail. A strike at Chile's Spence copper mines has lasted three weeks.

MARKET NEWS

* The U.S. dollar was under pressure, moving towards recent multi-month lows against a basket of currencies, after the U.S. Federal Reserve repeated its commitment to keep rates low for months to come.

* U.S. stocks rallied but lost steam on Wednesday after the Fed decision on rates.

* Crude oil futures inched lower but held above $80 on Thursday, a level they had closed at a day earlier for the first time in eight sessions after U.S. crude inventories showed an unexpected decline.

DATA/EVENTS

* The following data is expected on Thursday:

- Britain Sept industrial production (0930 GMT)

- Euro zone Sept retail sales (1000 GMT)

- Bank of England policy decision (1200 GMT)

- European Central Bank policy decision (1245 GMT)

- Weekly U.S. jobless claims (1330 GMT)

- U.S. Q3 preliminary productivity (1330 GMT)

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