Nov 15 (Reuters) - London copper prices eased on Monday, as the dollar held near a 16-month high on expectations of a U.S. rate hike, making greenback-priced metals expensive for holders of other currencies. Forex traders were awaiting for fresh cues on the U.S. economy after bringing forward bets last week for a Federal Reserve interest rate hike on the back of red-hot inflation. Three-month copper on the London Metal Exchange edged down 0.4% to $9,670 a tonne by 0233 GMT, but losses were cushioned by low inventories in ShFE and LME warehouses CU-STX-SGHMCUSTX-TOTAL. The premium of LME cash copper over the three-month contract MCU0-3 was last at $130 a tonne, indicating that nearby supplies were still tight albeit the tightness has eased slightly in recent sessions. The most-traded December copper contract on the Shanghai Futures Exchange was almost unchanged at 70,780 yuan ($11,090.57) a tonne. FUNDAMENTALS * The United States said on Friday it would open talks with Japan that could lead to an easing of tariffs on steel and aluminum imports, a longstanding irritant in trade relations between the two allies. * LME aluminium fell 1.9% to $2,650 a tonne, nickel shed 1.5% to $19,685 a tonne, zinc was down 0.8% to $3,240 a tonne and lead declined 0.9% to $2,339.50 a tonne. * ShFE aluminium dropped 1.1% to 19,280 yuan a tonne, zinc declined 1.2% to 23,055 yuan a tonne, lead decreased 1.7% to 15,295 yuan a tonne, and tin lost 1.8% to 282,980 yuan a tonne. * For the top stories in metals and other news, click or MARKETS NEWS * Asian shares edged higher as Chinese economic data surprised on the high side, challenging wagers the economy was stuck in a downturn although a decline in mainland house prices was a worry. DATA/EVENTS (GMT) 1100 EU Reserve Assets Total $1 = 6.3820 yuan Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich