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METALS-Shanghai metals slip on industial outlook, dollar

SYDNEY, Aug 15 (Reuters) - Shanghai base metals futures fell on Tuesday, echoing weaker London prices overnight on a weaker dollar and mixed Chinese industrial data.

China's industrial output, investment, retail sales and trade all grew less than expected last month.

In particular, weak data from China's housing sector played to concerns of weaker demand ahead for industrial metals, according to ANZ Bank.

FUNDAMENTALS

* NICKEL LEADS LOSERS: Steel-related Shanghai nickel dropped more than 2 percent at the open, with ShFE zinc off nearly 1 percent. Shanghai rebar was down 3 percent.

* LME COPPER: Three-month copper on the London Metal Exchange traded mostly flat at $6,408 a tonne by 0100 GMT. Prices hit their highest in more than 2-1/2 years on Aug. 9 at $6,515 and are up almost 8 percent this quarter.

* SHFE COPPER: The most-traded copper contract on the Shanghai Futures Exchange slipped 0.1 percent to 50,210 yuan ($7,528.30) a tonne.

* COOL CHINA DATA: China's strong economic growth showed visible signs of fading in July as lending costs rose and the gravity-defying property market cooled. Factory output rose 6.4 percent in July from a year earlier, the slowest pace since January, according to official data.

COPPER SHUT DOWN: Glencore's Zambian copper mining unit said on Monday it had suspended all operations at its two mines there due to restricted power supply.

* DUMPING CHALLENGE: Chinese metals industry association confirmed on Monday that the nation's aluminium sector would mount a legal challenge to the U.S. Department of Commerce's preliminary decision to impose antidumping tariffs on imports of Chinese aluminium foil.

* SUPPLY RISKS: Repricing aluminium's supply risks is a chaotic work in progress.

* ALUMINIUM: ShFE aluminium opened 1.4 percent lower, also succumbing to the dulling Chinese industrial outlook. SHFE aluminium stocks <AL-STX-SGH>, which have been climbing all year, hit their highest level since May 2013 at 473,000 tonnes.

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MARKETS NEWS

* Asian shares rallied and the dollar firmed on Tuesday after North Korea's leader signalled that he would delay plans to fire a missile near Guam, further easing tensions and prompting investors to move back into riskier assets.

DATA AHEAD (GMT)

0600 Germany GDP Flash Q2 0830 Britain Consumer prices Jul 0830 Britain Producer prices Jul 1230 U.S. New York Fed manufacturing Jul 1230 U.S. Import prices Jul 1230 U.S. Export prices Jul 1230 U.S. Retail sales Jul 1400 U.S. Business inventories Jun 1400 U.S. NAHB housing market index Aug

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 = 6.6695 Chinese yuan renminbi)

(Reporting by James Regan; Editing by Richard Pullin)