SINGAPORE, Sept 18 (Reuters) - London copper was little changed on Monday, trading near last week's one-month low, while prices in Shanghai slid for a fourth consecutive session on concerns over slowing growth in top consumer China.
FUNDAMENTALS
- Three-month copper on the London Metal Exchange CMCU3 fell $2 to $6,505 a tonne by 0049 GMT after dropping on Thursday to $6,452.50 a tonne, the weakest since August 18.
- The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 slid to 49,860 yuan a tonne, the lowest since August 11.
- China posted disappointing data last Thursday -- including its slowest growth in investment in nearly 18 years -- suggesting the world's second-largest economy is finally starting to lose some momentum as borrowing costs rise.
- Still, analysts expected demand for metals in China to remain strong.
- China's non-ferrous metal output fell to a one-year low in August, in a sign that Beijing's environmental crackdown is curbing supplies of base metals, with aluminium also hit by efforts to rein in output.
- North Korea's nuclear threat looms large this week over the annual gathering of world leaders at the United Nations in New York, where diplomats are eager to hear U.S. President Donald Trump address the 193-member body for the first time.
- Inventories in LME-registered warehouses registered their biggest weekly inflow since May, rising 67,600 tonnes to 276,025 tonnes and putting pressure on prices. MCUSTX-TOTAL
- For the top stories in metals and other news, click [TOP/MTL] or [MET/L]
MARKETS NEWS
- Asian shares crept ahead and the dollar firmed on Monday in a cautious start to a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide. [MKTS/GLOB]
DATA AHEAD (GMT) 0130 China House prices Aug 0900 Euro zone Inflation final Aug 1400 U.S. NAHB housing market index Sep
PRICES Three month LME copper CMCU3 Most active ShFE copper SCFcv1 Three month LME aluminium CMAL3 Most active ShFE aluminium SAFcv1 Three month LME zinc CMZN3 Most active ShFE zinc SZNcv1 Three month LME lead CMPB3 Most active ShFE lead SPBcv1 Three month LME nickel CMNI3 Most active ShFE nickel SNIcv1 Three month LME tin CMSN3 Most active ShFE tin SSNcv1
ARBS LMESHFCUc3 LMESHFALc3 LMESHFZNc3 LMESHFPBc3 LMESHFNIc3
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