August 7, 2018 / 2:20 AM / 4 months ago

METALS-LME copper eases for 2nd day on China growth concerns

SINGAPORE, Aug 7 (Reuters) - Copper prices slid for a second session on Tuesday as an escalating trade war between Washington and Beijing raised concerns over demand in top industrial metals consumer China.

Three-month copper on the London Metal Exchange gave up 0.3 percent to $6,112.50 a tonne by 0153 GMT and the most-traded copper contract on the Shanghai Futures Exchange lost 0.3 percent to 49,220 yuan ($7,173.78) a tonne.

On Friday China unveiled tariffs on 5,207 items imported from the United States, with the extra levies ranging from 5 percent to 25 percent, which analysts say could eventually undermine growth.

However, even though items earmarked for the 25 percent tariff include copper ore and concentrates, the quantities involved are not significant for China, analysts at ING said in a note.

FUNDAMENTALS

* Miner BHP said on Monday that it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world's largest, prompting the union to postpone the start of a strike approved by workers. nL1N1UX157

* Four more cities in northeast China's Liaoning province have abandoned their pursuit of alumina projects amid public environmental concerns, after Chaoyang last week scrapped plans to build the world's biggest alumina refinery.

* The new cancellations - announced in recent days by the cities of Fengcheng, Fuxin, Gaizhou and Huludao - mean projects designed to produce over 18.5 million tonnes of the substance used to make aluminium metal will not go ahead as planned.

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

MARKETS NEWS

* Asian stocks were largely steady on Tuesday, with worries over the U.S.-China trade conflict offsetting support from earnings-led gains on Wall Street.

DATA AHEAD (GMT) 0600 Germany Industrial output Jun 0600 Germany Trade data Jun 0645 France Trade data Jun 0645 France Current account Jun

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 = 6.8611 Chinese yuan renminbi)

Reporting by Naveen Thukral

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