(Recasts, updates prices) SYDNEY, Dec 5 (Reuters) - Base metals slipped into negative territory on Tuesday despite positive Chinese services data, as investors locked in profits on recent gains in nickel and copper. Earlier in the day, UBS raised its forecast for electric vehicles, which eventually led to an upgrade in the 2020-2021 nickel outlook. However, the brokerage warned that a vast inventory pile of metal and ore means it will be difficult to see nickel prices above the marginal mining costs of $6 per pound ($13,230 a tonne).
* SHANGHAI NICKEL: The most-traded nickel contract on the
Shanghai Futures Exchange closed down 1 percent at
91,940 yuan ($13,901.03) a tonne.
* LONDON NICKEL: Three-month nickel on the London Metal
Exchange was down 1.8 percent to 11,175 a tonne, as of
0715 GMT, reversing a modest overnight gain.
* ELECTRIC CARS: ANZ bank said a Bloomberg report that China was on the verge of extending rebates on electric vehicles was spurring positive sentiment for nickel.
* CHINA SERVICES DATA: The Caixin/Markit services purchasing managers' index (PMI) rose to 51.9 in November, up from 51.2 in October and the highest reading since August.
* STEEL FUTURES DIP: The most active rebar on the ShFE closed 0.35 percent lower, after hitting its strongest since Sept. 6 in the previous session.
* BIG MINERS DROP: Top base metals producers BHP
and Rio Tinto dropped 0.93 percent and 2 percent
respectively on the Australian bourse.
* ZINC SEIZED: Customs in China's eastern port city of Qingdao seized 1,762 tonnes of smuggled zinc waste last week in the country's campaign against the import of "foreign garbage".
* DOLLAR STALLS: The dollar dipped on Tuesday, as investors waited to see how the next step of the U.S. tax reform legislation proceeds rather than extend the rise made by the dollar at the start of the week following the U.S. Senate's approval of the tax bill.
* GUINEA ALUMINA : A consortium of the Societe Miniere de Boke (SMB) and Singapore's Winning Shipping plans to build Guinea's first alumina refinery in a $3 billion effort to develop the West African country's bauxite industry.
* SHFE COPPER, ALUMINIUM: ShFE copper finished 1.3
percent lower, while aluminium ended 0.79 percent down.
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
($1 = 6.6139 Chinese yuan)
(Reporting by James Regan; Editing by Joseph Radford and Sherry Jacob-Phillips)