METALS-Copper prices slide as new U.S. tariffs add to trade fears

 (Recasts, updates prices)
    By Naveen Thukral
    SINGAPORE, Dec 3 (Reuters) - London copper prices slid on
Tuesday, with most industrial metals losing steam, as new U.S.
tariffs on Brazil and Argentina revived global trade worries.
    U.S. President Donald Trump stunned markets with tariffs
against the two South American nations Brazil and Argentina,
while weak U.S. factory data overshadowed positive manufacturing
figures from China.                         
    The rising trade tensions were weighing on prices of
industrial metals, ANZ said in a report. 
    COPPER: Three-month copper on the London Metal Exchange
        was down 0.5% at $5,854 a tonne, as of 0712 GMT, and the
most-traded copper contract on the Shanghai Futures Exchange
         gave up 0.3% to 47,080 yuan ($6,688.55) a tonne.
    MANUFACTURING: 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.
    DEFLATIONARY RISKS: 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.
    TRADE DEAL: Investors in commodity and financial markets are
expecting a U.S.-China trade deal to help drive economic growth.
    POSSIBILITY: 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.
    ALUMINIUM OUTPUT: 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
    INVENTORIES: 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.
    FUTURES CONTRACT: 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.
    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                             
($1 = 7.0389 Chinese yuan)

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