April 10, 2019 / 1:59 AM / 12 days ago

METALS-Copper eases as IMF cuts growth forecast, U.S. proposes EU tariffs

SINGAPORE, April 10 (Reuters) - Copper fell on Wednesday after the International Monetary Fund cut its global growth forecast and the United States threatened to slap tariffs on hundreds of European goods.

The International Monetary Fund (IMF) cut its forecast for world economic growth this year to 3.3 percent from 3.5 percent previously, citing the U.S.-China trade war and a potentially disorderly British exit from the European Union.

It warned chances of further cuts to the outlook were high.

The U.S. Trade Representative on Monday proposed to slap tariffs on a list of European Union products ranging from large commercial aircraft to dairy products and wine as it kicked off the retaliation process against European aircraft subsidies.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange dipped 0.1 percent to $6,483 a tonne by 0137 GMT, snapping two days of gains, while the most-traded copper contract on the Shanghai Futures Exchange was little changed at 49,610 yuan ($7,386) a tonne.

* Other metals were mixed, with London aluminium edging up 0.1 percent and lead rising 0.3 percent. Shanghai zinc was on track for its third straight decline, down 1 percent, while lead fell 0.8 percent.

* An indigenous community in Peru voted to suspend its two-month road blockade of MMG Ltd's Las Bambas copper mine for two days until the government visits the region on Thursday, an advisor to the community told Reuters.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares stepped back from eight-month highs as the IMF lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated.

DATA/EVENTS (GMT)

0830 UK GDP Est 3M/3M Feb

0830 UK GDP Estimate MM YY Feb

0830 UK Manufacturing Output MM Feb

1145 EU ECB Refinancing Rate April

1145 EU ECB Deposit Rate April

1230 US CPI MM, SA March

1230 ECB President Mario Draghi holds a press conference

after an interest rate meeting

1550 Federal Reserve Vice Chairman Randal Quarles, Bank

of England Deputy Governor David Ramsden, U.S. CFTC

Chairman J. Christopher Giancarlo and UK Financial

Conduct Authority CEO Andrew Bailey speak at a

Financial Stability Board round-table discussion on

new interest rate benchmarks to replace LIBOR

1800 Federal Open Market Committee will release the

minutes from its March 19-20 policy meeting

:: IMF Spring Meetings

:: Governing Council of the ECB holds monetary policy

meeting in Frankfurt

PRICES

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

ARBS ($1 = 6.7164 Chinese yuan renminbi)

Reporting by Mai Nguyen; editing by Richard Pullin

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