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

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(Recasts throughout, updates prices) SINGAPORE, Nov 14 (Reuters) – Copper prices fell on Wednesday as weak retail sales data in China fueled 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 tonne.

* 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 aluminum output fell for a third straight month in October, as low aluminum prices prompted smelters to cut production even before government-mandated winter restrictions kick in.

London aluminum 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.

PRICES Three month LME copper Most active ShFE copper Three month LME aluminum Most active ShFE aluminum 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)