Wires

METALS-LME copper set for 3rd straight daily gain on supply worries

Mai Nguyen

(Adds quotes, updates prices)

SINGAPORE, Nov 5 (Reuters) - Copper prices rose on Tuesday, after producer Antofagasta Plc cut its output forecast from Chile due to nationwide protests in the world's biggest producer of the metal.

"Further signs of weaker copper output in Chile are emerging. Antofagasta said that Chilean unrest has slowed production," ANZ said in a note.

Antofagasta on Monday doubled its output cut from Chile to about 10,000 tonnes, pointing to a bigger hit from the protests in the South American nation, which has seen weeks of demonstrations against inequality.

Three-month copper on the London Metal Exchange (LME) rose 0.2% to $5,889.50 a tonne by 0256 GMT, on track for its third straight gain.

The most-traded copper contract on the Shanghai Futures Exchange (ShFE) advanced 0.3% to 47,180 yuan ($6,715.15) a tonne.

FUNDAMENTALS

* TRADE DEALS: China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a "phase one" U.S.-China trade deal, people familiar with the negotiations said on Monday.

* CHINA RATES: China's central bank cut the interest rate on its medium-term lending facility for the first time since early 2016, as policymakers work to prop up a slowing economy hit by weaker demand at home and abroad.

* UNITED STATES: New orders for U.S.-made goods fell more than expected in September and business spending on equipment was weaker than initially thought, suggesting that manufacturing remains soft amid the ongoing U.S.-China trade war.

* PRICES: LME aluminium fell 0.4%, nickel lost 0.9%, zinc eased 0.2% while lead advanced 0.4%. ShFE aluminium increased 0.4%, nickel dropped 2.1% and lead declined 0.3%.

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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 = 7.0259 Chinese yuan) (Reporting by Mai Nguyen; Editing by Tom Hogue and Aditya Soni)