Wires

METALS-Copper eases as China data fails to calm investor nerves

SINGAPORE, Dec 3 (Reuters) - London copper prices slid on Tuesday, with most industrial metals coming under pressure, as manufacturing data from China failed to assuage lingering doubts of an economic slowdown.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was down 0.4% at $5,862 a tonne, as of 0125 GMT, and the most-traded copper contract on the Shanghai Futures Exchange gave up 0.3% to 47,100 yuan ($6,691.39) a tonne.

* China's factory activity showed surprising signs of improvement in November, with growth picking up to a near three-year high, a private sector survey showed on Monday, reinforcing upbeat government data released over the weekend.

* Analysts, however, remain concerned about deflationary risks in the sector, unconvinced that the worst is over yet for Chinese manufacturers. They say the sub-indexes of both surveys painted a picture of patchy recovery that will be difficult to sustain.

* Investors in commodity and financial markets are expecting a U.S.-China trade deal to help drive economic growth.

* A senior adviser to U.S. President Donald Trump said on Monday an agreement was still possible before the end of the year, adding that the first phase of the deal was being put to paper.

* Trump ambushed Brazil and Argentina on Monday, announcing tariffs on U.S. steel and aluminum imports from the two countries in a measure that shocked South American officials and left them scrambling for answers.

* Trump's tariff threat overshadowed encouraging data on China and euro zone economies.

* Norsk Hydro , one of the world's biggest aluminium producers, plans to cut production by 20% at its majority-owned Slovalco plant in Slovakia, citing a weakening market. nL8N28C1YO

* The weak aluminium market has led to rising inventories. On-warrant LME stocks <MALSTX-TOTAL>, material not earmarked for delivery, reached 1,114,650 tonnes, the highest since Feb. 22, data showed.

* China's Shanghai International Energy Exchange (INE) is preparing to launch a copper futures contract within the next year that will be open to domestic and foreign investors, according to two sources familiar with the plans.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares skidded on Tuesday after U.S. President Donald Trump stunned markets with tariffs against Brazil and Argentina, recharging fears about global trade tensions, while weak U.S. factory data added to the investor gloom.

DATA/EVENTS (GMT)

0030 Australia Current Account Balance Q3

0030 Australia Net Exports Contribution Q3

0330 Australia RBA Cash Rate Dec1100 Brazil GDP YY, QQ Q3

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 = 7.0389 Chinese yuan)

(Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)