Reuters METALS-Copper rises to 3-month high as inventories fall

* Inventories fall as metal continues to leave warehouses

* US durable goods fall unexpectedly in June

* Fed's Beige Book shows US grew unevenly in recent weeks

* Coming Up: US weekly first-time jobless filings on Thur
(Recasts, updates prices and market activity to New York
close; new byline, changes datline previous LONDON)

By Carole Vaporean

NEW Y0RK, July 28 (Reuters) - Copper jumped on Wednesday, matching its May 10 high as global inventory drawdowns and gains in the euro boosted the red metal despite a surprise decline in U.S. orders for long-lasting goods.

Inventory draws in Shanghai indicated strong demand in China, the world's top copper consumer. The Chinese central bank said on Tuesday the country would not have a double-dip recession, even though economic growth would slow from its recent fevered pace.

The dollar fell against the euro as the weaker-than-expected reading on orders for U.S. durable goods added to fears about the U.S. economic outlook. [USD/] The
euro's earlier gains made copper prices more attractive in euro-based markets.

Some analysts pointed out that underlying manufacturing results in the U.S. report were actually positive, boding well for economic growth and demand for copper. more...

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Metal Prices at 3:10 EDT (2010 GMT)
Metal Last Change Pct Move End 2009 Ytd Pct

move
COMEX Cu 323.80 -0.75 -0.23 334.65 -3.24
LME Alum 2065.00 9.00 +0.44 2230.00 -7.40
LME Cu 7170.00 111.00 +1.57 7375.00 -2.78
LME Lead 2010.00 33.00 +1.67 2432.00 -17.35
LME Nicke 20400.00 -150.00 -0.73 18525.00 10.12
LME Tin 19450.00 120.00 +0.62 16950.00 14.75
LME Zinc 1950.00 40.00 +2.09 2560.00 -23.83
SHFE Alu 15480.00 180.00 +1.18 17160.00 -9.79
SHFE Cu* 56200.00 1100.00 +2.00 59900.00 -6.18
SHFE Zin 16215.00 330.00 +2.08 21195.00 -23.50