November 14, 2018 / 3:56 AM / 6 months ago

METALS-Copper falls as China's Oct retail sales disappoint

 (Recasts throughout, updates prices)
    By Mai Nguyen
    SINGAPORE, Nov 14 (Reuters) - Copper prices fell on
Wednesday as weak retail sales data in China fuelled concerns
over cooling growth in the world's top copper consumer.
    China delivered a mixed economic report card for October
with retail sales growing at its slowest pace since May and
pointing to a consumption slowdown, even as a pick-up in
industrial output and investment suggested support measures may
be starting to take hold.             
    "The retail sales (growth) number just announced slowed
quite a lot. That is really a big concern," said Helen Lau, an
analyst at Argonaut Securities.
    "There's a slight improvement in investment that showed the
government's physical support as they have promised, but ...
it's not satisfactory because the loan growth number is very
disappointing," Lau said.
    The weak retail sales number came after Tuesday's data
showing that China's loan growth slowed sharply in October
despite pressure by regulators on banks to help keep
cash-starved companies afloat.             
    Three-month copper on the London Metal Exchange         was
down 0.5 percent at $6,044.50 a tonne by 0729 GMT. The
most-traded copper contract on the Shanghai Futures Exchange
         lost 0.2 percent to settle at 48,820 yuan ($7,027) a
    * CHINESE COPPER: Chinese copper smelters are looking to
make more investments in mines, pushing to shore up supply of
concentrate at a time when competition for the raw material is
heating up, industry executives said.             
    * U.S.-CHINA TRADE: U.S. President Donald Trump's top
economic adviser Larry Kudlow said "it's pretty clear now" that
Trump will meet with Chinese President Xi Jinping at the G20
summit later this month, amid a tit-for-tat tariff war between
the world's two biggest economies.                 
    * CHINA ALUMINIUM: China's primary aluminium output fell for
a third straight month in October, as low aluminium prices
prompted smelters to cut production even before
government-mandated winter restrictions kick in.             
    London aluminium         edged up 0.2 percent after touching
a 15-month low on Tuesday, but edged down 0.4 percent in
Shanghai         .
    * GERMAN CONTRACTION: Outside of China, the German economy
shrank for the first time since 2015 in the third quarter as
global trade disputes swung the traditional export growth engine
of Europe's largest economy into reverse.             
    Three month LME copper                  
    Most active ShFE copper                  
    Three month LME aluminium               
    Most active ShFE aluminium               
    Three month LME zinc                    
    Most active ShFE zinc                    
    Three month LME lead                    
    Most active ShFE lead                    
    Three month LME nickel                 
    Most active ShFE nickel                   
    Three month LME tin                     
    Most active ShFE tin                             

($1 = 6.9478 Chinese yuan)

 (Reporting by Mai Nguyen
Editing by Manolo Serapio Jr. And Rashmi Aich)
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