Updates prices in paragraphs 3,9 and 10, adds quote in paragraph 8
Sept 15 (Reuters) - Copper prices were firmer in Asian trade on Friday, on track for weekly gains, as top metals consumer China boosted policy support for a sputtering economic recovery, with the metal holding on to the gains following a slew of encouraging Chinese indicators.
China released monthly home sales, property investment and industrial production data on Friday. Industrial output grew 4.5% in August from a year earlier, accelerating from the 3.7% pace seen in July.
Three-month copper on the London Metal Exchange CMCU3 was up 0.9% at $8,497 per metric ton, as of 0405 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange SCFcv1 added 0.8% to 69,810 yuan ($9,619.28) per metric ton.
China's central bank said on Thursday it wouldthe amount of cash that banks must hold as reserves for the second time this year to boost liquidity - the latest in a series of stimulus measures, including steps to spur housing demand.
Still, a strong U.S. dollar, which makes greenback-priced commodities more expensive for buyers using other currencies, and high copper inventories limited gains of the metal used in power and construction.
The dollar held steady in Asia on Friday, edging off slightly from overnight gains against peers, as the yuan strengthened in the wake of some market-beating economic data out of China. FRX/
Copper stocks in LME-registered warehouses are at their highest since October 2022, after a sharp growth over July-September. MCUSTX-TOTAL
"While positive out of China is supporting positive momentum on the day of the release, each incremental impact on base metals pricing is diminishing, given a continued deterioration of market confidence in economic recovery this year," analysts at Sucden Financial wrote in a report.
LME aluminium CMAL3 was up 0.1% at $2,227.50 a ton, tin CMSN3 slipped 0.4% to $25,800, zinc CMZN3 gained 0.1% to $2,571.50, lead CMPB3 edged 0.7% higher to $2,260.50, while CMNI3 lost 0.01% to $20,340.
In Shanghai, aluminium SAFcv1 added 0.8% to 19,370 yuan a ton, zinc SZNcv1 rose 0.7% to 21,975 yuan, lead SPBcv1 climbed 1.4% to 17,110 yuan, SNIcv1 advanced 1% to 162,620 yuan, while tin SSNcv1 gained 0.9% to 218,900 yuan.
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($1 = 7.2573 Chinese yuan renminbi)
(Reporting by Enrico Dela Cruz in Manila and Neha Arora in New Delhi; Editing by Sherry Jacob-Phillips and Dhanya Ann Thoppil)
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