Oct 26 (Reuters) - Copper prices fell on Monday as rising coronavirus cases around the world sparked doubts of a sustained global economic recovery and boosted the U.S. dollar, making greenback-priced metals more expensive to buyers holding other currencies.
The United States recorded its highest ever number of new COVID-19 cases for two consecutive days, while Spain announced a new state of emergency and Italy ordered restaurants and bars to shut by 6 p.m. as Europe battles a fresh wave of infections.
The dollar was stronger as rising virus cases and lack of progress towards a U.S. stimulus package put traders in a cautious mood.
Three-month copper on the London Metal Exchange fell 0.2% to $6,852 a tonne by 0154 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange declined 0.5% at 51,860 yuan ($7,751.64) a tonne.
FUNDAMENTALS
* LME nickel dropped 1.1% to $15,540 a tonne, aluminium rose 0.2% to $1,846.50 a tonne. In Shanghai, nickel fell 1% to 118,540 yuan a tonne and lead decreased 1.3% to 14,300 yuan a tonne.
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MARKETS NEWS
* Global shares got off to a cautious start as surging coronavirus cases in Europe and the United states threaten the economic outlook, even as growth in China provides some support to Asia.
DATA/EVENTS (GMT)
0900 Germany Ifo Business Climate New Oct
0900 Germany Ifo Current Conditions New Oct
0900 Germany Ifo Expectations New Oct
1400 US New Home Sales-Units Sep
PRICES
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.6902 yuan) (Reporting by Mai Nguyen; Editing by Amy Caren Daniel)