Wires

METALS-Copper falls on potential delay in U.S.-China trade deal

MANILA, Nov 21 (Reuters) - Copper prices dropped on Thursday, after touching a one-week high in the previous session, as a possible delay in a much-awaited "phase one" trade deal between Washington and Beijing weighed on sentiment.

Benchmark copper on the London Metal Exchange was

down 0.5% at $5,846 a tonne, as of 0144 GMT, while the most-active copper contract on the Shanghai Futures Exchange slipped 0.2% to 47,020 yuan ($6,676.32) a tonne. Completion of a "phase one" U.S.-China trade deal could slide into next year, trade experts and people close to the White House said, as Beijing presses for more extensive tariff rollbacks while Washington counters with heightened demands of its own. Officials from Beijing had earlier suggested that Chinese President Xi Jinping and U.S. President Donald Trump might sign a deal in early December. Possibly complicating the trade talks, the U.S. House of Representatives on Wednesday passed two bills to back protesters in Hong Kong and send a warning to China about human rights, which the Senate passed the day before, angering Beijing.

FUNDAMENTALS

* The global world refined copper market showed a surplus of 29,000 tonnes in August, compared with 71,000 tonnes deficit in July, the International Copper Study Group (ICSG) said in its latest monthly bulletin.

* The U.S. International Trade Commission (ITC) on Wednesday said it had determined that U.S. industry was materially injured by below-cost imports of aluminum wire and cable from China, locking in U.S. antidumping and countervailing duties.

* The London Metal Exchange is considering creating a new market for "green" aluminum, using warehouse ownership documents to identify low-carbon material instead of spinning off a new futures contract.

* Russian businessman Vladimir Potanin, the biggest

shareholder in Norilsk Nickel , said he may raise his

stake in the Russian mining giant if the opportunity arises.

* Global primary aluminum output rose to 5.392 million tonnes in October from revised 5.222 million tonnes in September, data from the International Aluminium Institute (IAI) showed.

* Canada's Teck Resources Ltd has hired Barclays to sell all of its 80% stake in its Zafranal copper asset in Peru, two banking sources told Reuters.

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MARKETS NEWS

* Global shares slid on Thursday as a fresh row between Washington and Beijing over U.S. bills on Hong Kong could complicate their trade negotiation and delay a "phase one" deal that investors had initially hoped to be inked by now.

DATA/EVENTS (GMT)

0745 France Business Climate Mfg Nov1330 US Initial Jobless Claims Weekly1330 US Philly Fed Business Indx Nov1500 US Existing Home Sales Oct1500 EU Consumer Confid. Flash Nov

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 = 7.0428 yuan)

(Reporting by Enrico dela Cruz, Editing by Sherry Jacob-Phillips)