METALS-Shanghai copper extends gains on US government reopening cheer

SHANGHAI, Nov 13 (Reuters) - Shanghai copper rose on Thursday as investors welcomed the end of the U.S. government shutdown, easing market uncertainty, though gains were capped by expectations of weak Chinese bank lending ahead of key economic data releases.

The most-traded copper contract on Shanghai Futures Exchange SCFcv1 closed daytime trading up 0.95% to 86,550 yuan ($12,150.78) a metric ton.

The benchmark three-month copper CMCU3 also gained, up by 0.19% to $10,965 a ton as of 0703 GMT.

U.S. President Donald Trump on Wednesday signed legislation to end the longest government shutdown in the history of the nation, hours after the House of Representatives passed the spending package.

Investors welcome the reopening of the U.S. government, as it reduces market uncertainties, while they expect economic data to return to help them gauge the U.S. economy.

However, expectations for China's weak bank lending are holding back copper gains. Investors are also awaiting a slew of data on the Chinese economy to be released on Friday, including new home prices, retail sales, and industrial output.

Elsewhere, among SHFE base metals, tin SSNcv1 posted the biggest gain, closed the day surging 2.27% to 298,140 yuan a ton.

Indonesia, a major tin supplier to China, exported 2,643 tons of refined tin in October, down 53.89% from a year earlier, data from the country's trade ministry showed on Monday, leading to concerns over the supply of the soldering metal.

Aluminium SAFcv1 climbed 1.31%, zinc SZNcv1 gained 0.44%, lead SPBcv1 added 0.43% and nickel SNIcv1 was little changed.

Among LME metals, aluminium CMAL3 was up 0.26%, zinc CMZN3 rose 0.50%, tin CMSN3 gained 0.40%, nickel CMNI3 was little changed, and lead CMPB3 posted sole loss at 0.31%.

($1 = 7.1230 Chinese yuan renminbi)