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SINGAPORE, Nov 7 (Reuters) - Copper prices fell on Thursday as worries of a delay in a highly anticipated trade deal between the United States and China hurt sentiment.
London Metal Exchange's (LME) three-month copper fell 0.4% to $5,885 a tonne by 0413 GMT, while the most-traded copper contract on the Shanghai Futures Exchange (ShFE) declined 0.5% % to 47,120 yuan ($6,714.74) a tonne.
A meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a trade deal could be delayed to December, from November initially, as talks continue over terms and venue, a U.S. official told Reuters on Wednesday.
"The sentiment is a bit fragile. If there's any roll back in trade progress, the risk appetite with recede," said analyst Helen Lau of Argonaut Securities.
"Demand is the key driver for base metals prices going forward, especially for copper. Even though there are some concerns on supply from Chile, it is still not enough to support copper price," Lau said.
The nearly 16-month-long trade conflict has hurt global growth and demand for base metals. Any further delay of a deal is seen as a negative sign for copper prices, which are often used as a gauge of economic health.
* CHILE COPPER: Chile's copper mines have mostly maintained production and kept operations running normally in the face of weeks of unrest in the country, though scattered incidents have hit some operations and uncertainty lingers.
* NICKEL: LME nickel advanced 0.2% to $16,280 a tonne, while ShFE nickel rose 0.4% to 131,420 yuan a tonne.
* INDONESIA BAN: Indonesian officials may decide this week whether to resume nickel ore exports after halting shipments to investigate reports of export violations, following a scheduled meeting on Thursday to review the investigation results.
* CHINA NICKEL: A ban on nickel ore exports from Indonesia will sharply reduce top buyer China's output of stainless steel and its raw material nickel pig iron, analysts said.
* JAPAN: Japanese manufacturers turned the most pessimistic in 6-1/2 years in November, the Reuters Tankan poll showed, as the world's third largest economy was hit by a triple whammy of a global slowdown, natural disasters and a tax hike.
* PRICES: LME aluminium fell 0.6%, and lead declined 0.9%. ShFE aluminium eased 0.3%, zinc dropped 1.2%, lead fell 0.8% while tin rose 0.4%.
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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 = 7.0174 Chinese yuan renminbi) (Reporting by Mai Nguyen; Editing by Aditya Soni and Amy Caren Daniel)