METALS-Base metal prices fall, tracking equities rout on macro fears

BEIJING, Oct 11 (Reuters) - Base metals prices fell sharply in Shanghai and London in early Asian trade on Thursday, tracking a broad sell-off on equity markets as a gloomy macro-economic outlook raised concerns over demand growth.

FUNDAMENTALS

* LME COPPER: Three-month copper on the London Metal Exchange fell 1.1 percent to $6,171.50 a tonne by 0139 GMT, extending a 0.8 percent drop in the previous session.

* SHFE COPPER: The most-traded November copper contract on the Shanghai Futures Exchange slipped by 1.2 percent to 50,080 yuan ($7,234.49) a tonne.

* OTHER METALS: Shanghai aluminum and nickel both fell around 1.6 percent, while zinc slipped 1 percent. Lead and tin were the only gainers, nudging up 0.3 and 0.5 percent, respectively.

* ALUMINA: Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there, CEO Svein Richard Brandtzaeg told Reuters on Wednesday.

* ALUMINIUM: Rio Tinto is close to restarting a sale process for some of its aluminum assets, including a plant in Iceland, which have been valued at around $350 million, two sources familiar with the matter said.

* LITHIUM: Chile has called for lithium to be traded on the London Metals Exchange to provide greater "clarity" about its value, mining minister Baldo Prokurica said on Wednesday. 1/2nL2N1WQ12O 3/8

* CHILE: The controlling shareholder in Chilean lithium producer SQM, on Wednesday filed suit with Chile's Constitutional Court to block a deal allowing the sale of nearly one-fourth of the miner to China's Tianqi Lithium Corp .

* SHFE: The Shanghai Futures Exchange will add lead, zinc, tin and nickel to its new physical trading platform from Oct. 18, the exchange said in a statement on Wednesday.

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MARKETS NEWS

* Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.

DATA AHEAD (GMT)

0645 France Consumer prices Sep 1230 U.S. Consumer prices Sep 1230 U.S. Weekly jobless claims 1500 U.S. Cleveland Fed CPI Sep

PRICES

BASE METALS PRICES 0141 GMT Three month LME copper 6170 Most active ShFE copper 50060 Three month LME aluminum 2032 Most active ShFE aluminum 14240 Three month LME zinc 2599 Most active ShFE zinc 22560 Three month LME lead 1905 Most active ShFE lead 18210 Three month LME nickel 12600 Most active ShFE nickel 104240 Three month LME tin 0 Most active ShFE tin 147770

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 200 LME/SHFE ALUMINIUM LMESHFALc3 -2020.91 LME/SHFE ZINC LMESHFZNc3 429.13 LME/SHFE LEAD LMESHFPBc3 1671.16 LME/SHFE NICKEL LMESHFNIc3 1472.17

($1 = 6.9224 Chinese yuan renminbi)

(Reporting by Tom Daly; editing by Richard Pullin)