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METALS-Shanghai copper hits 1-mth low on escalating U.S.-China dispute

Mai Nguyen

(Adds quotes, updates prices)

SINGAPORE, Oct 9 (Reuters) - Shanghai copper fell to its lowest in over a month on Wednesday as an expanding trade dispute between the United States and China intensified concerns over demand.

The most-traded November copper contract on the Shanghai Futures Exchange fell as much as 0.8% to 46,520 yuan ($6,515.68) a tonne, its lowest since Sept. 4, tracking overnight declines in the London market. It was down 0.5%, as of 0421 GMT.

The United States and China, the world's two biggest economies, are due to have their first minister-level talks in months on Thursday trying to end a 15-month long trade dispute that has hurt the global economy.

However, hopes of a resolution appeared low as Washington on Tuesday imposed visa restrictions on Chinese officials for the detention or abuse of Muslim minorities, angering Beijing.

"It has become a little bit difficult for the negotiation to continue or to progress to a desired stage. The market has already expected this resolution will take a long time," said analyst Helen Lau of Argonaut Securities.

China is the world's biggest copper user, accounting for about half of global copper demand.

FUNDAMENTALS

* PRICES: Shanghai lead fell 1.3%, aluminium dipped 0.3, zinc eased 0.1% while nickel rose 0.2%. In London, copper rose 0.4%, reversing from a 0.8% loss in the previous session while all other base metals fell.

* CODELCO PREMIUM: Chile's Codelco, the world's biggest copper producer, has agreed with some Chinese customers to keep its physical copper premium for 2020 unchanged from this year at $88 a tonne, sources said.

* COPPER: A service will launch next week for funds managers, traders and miners that uses satellites to keep copper smelters under surveillance to get quick word of when they shut down and ramp up.

* FED: Federal Reserve chairman Jerome Powell on Tuesday flagged openness to further rate cuts to fend off global economic risks, repeating that the central bank will act "as appropriate" amid an economy that he said will likely expand.

* SLOWDOWN: The global economy is experiencing a "synchronized slowdown," the new head of the International Monetary Fund said, warning that it would worsen if governments failed to resolve trade conflicts and support growth.

* GERMANY: German industrial output rose unexpectedly in August but analysts said Europe's biggest economy remains at risk of recession after months of contraction in manufacturing.

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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 = 7.1397 Chinese yuan) (Reporting by Mai Nguyen; Editing by Aditya Soni)