METALS-Shanghai aluminum slips to fresh 2-yr low as China factory growth stalls

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BEIJING, Nov 30 (Reuters) - Chinese aluminum prices sunk to their lowest in more than two years on Friday and were on course for a third successive monthly drop, as stalling manufacturing growth compounded plentiful supply amid relatively lenient winter output curbs. China's official Purchasing Managers' Index fell to 50 in November, missing market expectations and down from 50.2 in October. The 50-point mark is considered neutral territory, indicating no growth in activity or contraction on a monthly basis.

FUNDAMENTALS

* ALUMINIUM: The most traded aluminum contract on the Shanghai Futures Exchange fell as much as 0.6 percent to 13,590 yuan ($1,956.55) a tonne, the lowest since Oct. 10, 2016, and stood at 13,610 yuan a tonne as of 0152 GMT. The metal is heading for a 2.8 percent drop in November.

* ALUMINIUM: Norwegian metals maker Norsk Hydro said on Thursday it expects global primary aluminum demand growth to slow next year, and that the company was being impacted "heavily" by an output slowdown at a key alumina plant in Brazil.

* COPPER: Three-month copper on the London Metal Exchange was flat at $6,210 a tonne, heading for a monthly rise of 3.6 percent, while the most traded ShFE copper contract edged up 0.1 percent to 49,550 yuan a tonne.

* INDONESIA: Indonesian President Joko Widodo called on Thursday for an "immediate" end to issues holding up the country's plans to acquire a majority stake in Freeport-McMoRan Inc's giant Grasberg copper mine in Papua.

* CODELCO: Chile's Codelco, the world's largest copper producer, said on Thursday that mine output fell 3 percent in the first nine months of the year as ore grades sharply declined, leading to a 12 percent drop in pretax profit.

* NICKEL: Shanghai nickel was the top performer, seeing over 380,000 lots of trade and rising by 1.6 percent to 91,070 yuan a tonne. It tracked a 2.4 percent jump in London nickel in the previous session.

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MARKETS NEWS

* Share markets ticked slightly lower in early Asian trade on Friday as investors await a closely watched meeting between the Chinese and U.S. presidents in Argentina this weekend for signs of a trade war detente.

DATA AHEAD (GMT)

0700 Germany Import prices Oct 0700 Germany Retail sales Oct 0745 France Consumer prices Nov

1000 Euro zone Unemployment rate Oct

1445 U.S. Chicago PMI Nov

PRICES

BASE METALS PRICES 0201 GMT Three month LME copper 6211.5 Most active ShFE copper 49570 Three month LME aluminum 1934 Most active ShFE aluminum 13605 Three month LME zinc 2461.5 Most active ShFE zinc 20370 Three month LME lead 1935.5 Most active ShFE lead 18215 Three month LME nickel 11040 Most active ShFE nickel 91110 Three month LME tin 18500 Most active ShFE tin 143620

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 -532.77 LME/SHFE ALUMINIUM LMESHFALc3 -1914.25 LME/SHFE ZINC LMESHFZNc3 -149.74 LME/SHFE LEAD LMESHFPBc3 1636.17 LME/SHFE NICKEL LMESHFNIc3 938.65

($1 = 6.9459 Chinese yuan renminbi)

(Reporting by Tom Daly; editing by Sai Sachin Ravikumar)