LME copper falls on dollar; US econ data looms

* Copper falls after four-day holiday weekend in Britain

* Dollar firm but still near Monday's 3-year low

* Copper technically weak, might fall to 67,390 yuan

* Coming Up: U.S. durable goods March; 1400 GMT

(Adds details, updates prices)

By Carrie Ho

SINGAPORE, May 3 (Reuters) - London copper inched down on Tuesday under the weight of a firmer dollar and economic uncertainty ahead of U.S. economic data this week, including key non-farm payroll numbers for April due on Friday.

London Metal Exchange copper for delivery in three months fell 0.3 percent to $9,296 by 0324 GMT. The most active Shanghai July copper contract SCFcv1 was steady at 69,210 yuan at the midday break, after a three-day weekend in China.

"Everyone is waiting to see how uncertainties in the macro-economic situations of major economies will pan out," China Futures Co analyst Yang Jun said.

"Also, we are now trading contracts for July and August, which are traditionally weak months for copper in China, at a time when inventories are high in the country," he said, adding that Shanghai copper's fall will be limited as long as LME copper holds above $9,000.

The dollar index , which tracks the greenback's performance versus a basket of major currencies, was up 0.28 percent at 73.153, near the three-year low of 72.722 reached in New York on Monday. Its decline in the past few weeks has taken it ever closer to a record low of 70.698 set in March 2008.

While many expect the dollar to stay weak after the U.S. Federal Reserve said it will continue to pursue an ultra-loose monetary policy, the coming end of QE2 raise fears that some tightening measures may follow.

Copper looked technically weak and may fall to 67,390 yuan per tonne based on its wave pattern and a Fibonacci projection analysis, said Reuters technical analyst Wang Tao.

[ID:nL3E7G3057]

News of al Qaeda leader Osama bin Laden being killed in Pakistan appeared to have no material impact on commodities, despite mass celebrations outside the White House and in New York City early on Monday. [ID:nN02193220]

U.S. stocks erased gains, ending slightly down as investors concluded Osama bin Laden's death will do little to ease global economic and political risks.

China's purchasing managers index for its services sector rose to an 11-month high of 62.5 in April, although the sub-index for the property sector, a major user of copper, remained below the 50 level that indicates expansion for the seventh month. [ID:nL3E7G303V]

The index suggested the services sector is more buoyant than the country's manufacturing sector, where the official PMI dipped to 52.9 in April on policy tightening. [ID:nL3E7G100E]

  Base metals prices at 0324 GMT
  Metal              Last       Change   Pct Move YTD pct chg
  LME Cu            9295.75    -24.25     -0.26     -3.17
  SHFE CU FUT JUL1    69250        50     +0.07     -3.62
  LME Alum          2763.00     -4.00     -0.14     11.86
  SHFE AL FUT JUL1    16850        00     +0.00      0.06
  HG COPPER JUL1     422.10      1.15     +0.60     -4.92
  LME Zinc          2249.75      2.75     +0.12     -8.32
  SHFE ZN FUT JUL1    17255       -65     -0.38    -11.40
  LME Nickel       26645.00   -205.00     -0.76      7.66
  LME Lead          2502.00     11.00     +0.44     -1.88
  SHFE PB FUT         17555         5     +0.03     -4.33
  LME Tin          31925.00   -125.00     -0.39     18.68
  LME/Shanghai arb    1418

Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE  third month

Shanghai lead launched on March 24

(Source: http://af.reuters.com/article/metalsNews/idAFLDE7420XA20110503)