Feb 15 (Reuters) - Copper edged higher on Thursday, buoyed by a slight pullback in the U.S. dollar and lower inventories, although prices were hemmed in a narrow range as markets in top metals consumer China were closed for the Lunar New Year holidays.
Three-month copper on the London Metal Exchange was up 0.3% at $8,218 a metric ton, as of 0302 GMT.
The dollar index eased 0.1% against its rivals, after hitting a three-month high on Tuesday as traders pushed back bets for a first Federal Reserve rate cut following surprisingly hot U.S. inflation figures.
A weaker U.S. currency makes dollar-priced metals less expensive for holders of other currencies.
Also providing support to copper, LME daily data showed that
copper stocks in LME-registered warehouses
Copper, widely used in power and construction, is down more than 4% this month on concerns about demand from top consumer China and its property sector in particular.
Asian stocks rose on Thursday, with the Nikkei breaching a new 34-year peak.
Data showed Japan's economy slipped into recession as it unexpectedly shrank for a second straight quarter on weak domestic demand.
Among other metals, LME aluminium rose 0.2% to $2,239.50 a ton, nickel was steady at $16,345, zinc gained 0.5% to $2,323 and lead climbed 1.1% to $2,039. Tin fell 0.4% to $27,370.
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DATA/EVENTS (GMT) 0700 UK GDP Est 3M/3M Dec 0700 UK GDP Estimate MM, YY Dec 0700 UK Manufacturing Output MM Dec 0700 UK GDP Prelim QQ, YY Q4 1000 EU Total Trade Balance SA Dec 1100 EU Reserve Assets Total Jan 1330 US Import Prices YY Jan 1330 US Initial Jobless Clm Weekly 1330 US Philly Fed Business Indx Feb 1330 US Retail Sales MM Jan 1415 US Industrial Production MM Jan (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)