Wires

METALS-Copper falls as Trump dashes hopes for details of U.S.-China trade deal

Mai Nguyen

deal@ (Updates prices)

SINGAPORE, Nov 13 (Reuters) - Copper prices in London were on track to fall for a fourth straight session on Wednesday, while Shanghai prices slid to a near two-week low after U.S. President Donald Trump gave no new details on negotiations for a U.S.-China trade deal.

Three-month copper on the London Metal Exchange (LME) fell 0.3% to $5,852 a tonne by 0723 GMT.

The most traded copper contract on the Shanghai Futures Exchange (ShFE) declined as much as 0.5% to 46,970 yuan ($6,715.66) a tonne, its lowest since Nov. 1, before closing 0.4% lower.

U.S. President Donald Trump on Tuesday disappointed investors as he offered no major policy announcements or details on a venue and date for signing a trade deal with China as anticipated.

However, the slide in copper prices was contained as supply uncertainty persisted due to social unrest at its top producer Chile.

"Global mine production by leading copper producers in the first nine months of this year declined. The social unrest in Chile and the lack of large copper mining projects to be commissioned in 2020 are the key downside risks to global supply in 2020," Argonaut Securities' analyst Helen Lau said in a note.

FUNDAMENTALS

* COPPER STOCKS: Copper inventories in LME-approved warehouses <MCUSTX-TOTAL> fell to a five-month low at 229,350 tonnes, while stocks in warehouses tracked by ShFE <CU-STX-SGH> had fallen 44% since March to 148,687 tonnes.

* CHILE COPPER: Most of Chile's copper miners said they had maintained their operations on Tuesday, albeit with some delays and sporadic unrest, amid calls for a general strike and a fresh day of social protests.

* INDONESIA NICKEL: Indonesia's nickel miners are prepared to sell their ore to local smelters if they are offered competitive pricing compared with overseas buyers, a nickel miners association official said on Tuesday.

PRICES: LME aluminum eased 0.3% to $1,772 a tonne, nickel fell 1.1% to $15,490 a tonne, zinc declined 0.5% to $2,460 a tonne, lead edged up 0.1% to $2,060.50 a tonne and tin lost 0.8% to $16,210 a tonne.

* SHANGHAI PRICES: Shanghai aluminum fell 0.5% to 13,805 yuan a tonne, nickel lost 0.8% to 121,080 yuan a tonne, zinc declined 0.8% to 18,540 yuan a tonne, lead eased 0.3% to 15,875 yuan a tonne while tin dropped 1.4% to 134,600 yuan a tonne.

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PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminum

Most active ShFE aluminum

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 = 6.9941 Chinese yuan) (Reporting by Mai Nguyen; Editing by Shailesh Kuber and Uttaresh.V)