News: ORI METALS-London copper slips, traders cut risk as China growth slows

(Adds comment, detail)

MELBOURNE, May 16 (Reuters) - London copper fell on Tuesday as worries about China's slowing economic growth and tighter capital markets in the world's top metals consumer triggered selling in metals.

China's growth took a step back in April after a surprisingly strong start to the year, tapering off as authorities clamped down on debt risks in an effort to stave off a potentially damaging hit to the economy.

"All of the slowdown in key macro data was ... from restructuring/reform and risk controls," said Argonaut Securities in a report.

"We think there is no chance of hard-landing in China as of now. That said, as there are a lack of drivers for new demand growth ahead ... commodity prices may fluctuate in a narrow range," it said.

"Positive catalysts are stronger-than-expected external growth in Europe and emerging markets, and more supply side reform in China."

• LME COPPER: London Metal Exchange CMCU3 copper had dropped 0.5 percent to $5,583 a tonne by 0526 GMT, paring gains from the previous session when it hit $5,637 which was the highest in nearly two weeks.
• LME ZINC: LME zinc CMZN3 and lead CMPB3 also fell around 1 percent, and were trading near their lowest for the year, having recently broken below their 200-day moving averages, sending a sell signal to chart-following funds.
• SHFE COPPER: Shanghai Futures Exchange copper SCFcv1 traded flat at 45,220 yuan ($6,561) a tonne. ShFE zinc Szncv1 and Shanghai lead SPBcv1 fell 1 and 1.4 percent respectively.
• CHINA PROPERTY: China's property resale market cooled a notch in April due to intensified government curbs, but chances are slim that prices will fall across the board as housing supply remains short, a top state think-tank said on Monday.
• U.S. PROPERTY: A private gauge of U.S. home builder sentiment unexpectedly rose in May to its second strongest level since the housing bust nearly a decade ago, as the existing supply of homes remained tight.
• BHP: Activist investor Elliott Management upped the pressure for strategic changes at BHP (BHP), on Tuesday, calling for an independent review of the mining giant's petroleum business.
• ORICA: Orica Ltd (ORI), the world's No. 1 explosives maker, beat forecasts on Tuesday with a 2.7-percent rise in its half-year underlying profit, helped by cost cuts and higher sales, and said demand from its mining customers was improving.
• MARKETS: Asian stocks briefly climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018. [MKTS/GLOB]

  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

($1 = 6.8921 Chinese yuan renminbi)

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