METALS-LME copper edges up from over one-week low in thin Asia trade

Feb 18 (Reuters) - LME copper edged up in thin Asian trade on Wednesday, after falling to a more than one-week low in the previous session as high inventories of the red metal and a firm dollar pressured prices.

Benchmark copper CMCU3 on the LME added 0.4% to $12,670.50 a metric ton as of 0219 GMT. It had fallen 1.8% on Tuesday.

"The dollar's renewed strength this week has hindered the performance of base metals. Dollar-denominated metals feel the squeeze, especially in a market already starved of Asian liquidity," said Tim Waterer, chief market analyst at KCM Trade.

The dollar held its ground on Wednesday as geopolitical risks kept markets on edge and investors awaited minutes from the Federal Reserve for signals on future rate cuts. USD/

A stronger U.S. dollar makes greenback-priced metals more expensive for holders of other currencies.

Copper stocks in LME-approved warehouses increased by 9,775 tons to 221,625 tons on Tuesday MCUSTX-TOTAL, the highest in 11 months.

"High inventories could take a little while to clear, given the holiday conditions," Waterer said.

Meanwhile Chilean miner Antofagasta ANTO.L posted a 52% jump in annual core profit on Tuesday, as record high copper prices last year offset slightly weaker output. The miner said its increased capital spending would support production in the medium term.

In other metals, zinc prices ticked up 0.2% to $3,291.0 CMZN3, after touching a two-week low on Tuesday.

Aluminium CMAL3 added 0.3% to $3,043.0, breaking a four-session losing streak. Lead CMPB3 gained 0.1% to $1,947.50, tin CMSN3 lost 1.3% to $45,425 and nickel CMNI3 was up 0.2% at $16,895 a ton.

Wednesday, February 18

DATA/EVENTS (GMT)

0700 UK Core CPI YY Jan

0700 UK CPI YY Jan

0700 UK CPI Services MM, YY Jan

0745 France CPI (EU Norm) Final MM, YY Jan

1300 US Durable Goods Dec

1300 US Housing Starts Number Dec

1415 US Industrial Production MM Jan

1900 US Federal Open Market Committee issues minutes from its meeting of January 27-28