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METALS-Shanghai metals prices fall as U.S.-China trade row escalates

BEIJING, April 4 (Reuters) - Shanghai base metal prices mostly fell on Wednesday after the United States announced fresh tariffs on 1,300 Chinese products, including some metal products, escalating a trade row with China, which has vowed to respond.

FUNDAMENTALS

* SHFE COPPER: The most-traded May copper contract on the Shanghai Futures Exchange, which has risen for five trading days in a row, was flat at 50,410 yuan ($8,019.28) a tonne by 0154 GMT.

* LME COPPER: Three-month copper on the London Metal Exchange was up 0.2 percent at $6,810.50 a tonne, extending a 1.2 percent gain in the previous session.

* OTHER METALS: The four other key base metals in Shanghai were all in negative territory amid trade war fears, led by zinc , which was down 1 percent at 24,660 yuan a tonne, while aluminium and lead were both down 0.5 percent.

* UNITED STATES: The Trump administration on Tuesday raised the stakes in a growing trade showdown with China, announcing 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing's intellectual property practices.

* TRADE: China's commerce ministry said on Wednesday it "strongly condemns and firmly opposes" the proposed U.S. tariffs following the Section 301 probe and will take counter measures, according to the official Xinhua news agency.

* CHINA: China's services sector growth eased to a four-month low in March as new business and employment grew at a slower rate, a private business survey showed, pointing to cooling demand in a sector Beijing is counting on to maintain economic growth.

* CHILE: Caserones copper mine in Chile said on Tuesday that it would temporarily shut down its copper concentrator in order to replace a leaking pipe.

* LITHIUM: Representatives of Chinese lithium giant Tianqi met with Chile's top anti-trust prosecutor less than a month after Chilean authorities moved to block the miner from buying a coveted stake in Chile's SQM, Chile's lobbyist transparency website showed on Tuesday.

* ALCOA: Aluminium producer Alcoa Corp said on Tuesday it had signed contracts to transfer Canadian pension obligations and assets worth $555 million to three insurers, in a move to strengthen its balance sheet.

MARKETS NEWS

* Asian shares were trying to bounce on Wednesday as investors underwent another of the mercurial mood swings that have plagued markets recently, and one could prove just as fleeting given simmering fears of a trade war.

DATA AHEAD (GMT)

0900 Euro zone Unemployment rate Feb 1215 U.S. ADP national employment Mar 1400 U.S. Factory orders Feb 1400 U.S. ISM non-manufacturing PMI Mar

PRICES

BASE METALS PRICES 0206 GMT Three month LME copper 6810 Most active ShFE copper 50390 Three month LME aluminium 1996 Most active ShFE 13980

aluminium

Three month LME zinc 3255 Most active ShFE zinc 24645 Three month LME lead 2388.5 Most active ShFE lead 18675 Three month LME nickel 13495 Most active ShFE nickel 100270 Three month LME tin 21265 Most active ShFE tin 145050

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 611.05 LME/SHFE ALUMINIUM LMESHFALc3 -564.34 LME/SHFE ZINC LMESHFZNc3 279.29 LME/SHFE LEAD LMESHFPBc3 211.03 LME/SHFE NICKEL LMESHFNIc3 -32.39

($1 = 6.2861 Chinese yuan)

(Reporting by Tom Daly; Editing by Biju Dwarakanath)