SINGAPORE, Aug 17 (Reuters) - London copper prices ticked lower on Friday, shedding last session's gains which were triggered by reports of Washington-Beijing trade talks and a recovery in Turkey's currency. FUNDAMENTALS * The benchmark copper on the LME was down 0.3 percent at $5,920.50 a tonne, as of 0141 GMT, after climbing more than 2 percent in the last session, while most-traded contract on the Shanghai Futures Exchange added 0.3 percent to 47,870 yuan ($6,965.34) a tonne. * LME copper lost 4.5 percent this week, and is poised for its biggest weekly decline since the beginning of July. * China and the United States will hold lower-level trade talks this month, the two governments said on Thursday, offering hope that they might resolve an escalating tariff war that threatens to engulf all trade between the world's two largest economies. * China is the world's biggest metals consumer and a trade war between Washington and Beijing had raised concerns about global economic growth. * The dollar was little changed against other major currencies on Friday after nudging away from 13-1/2-month highs amid easing risk aversion and as investors awaited the next developments in the U.S.-China trade saga. * China almost quadrupled the value of fixed-asset investment projects approved in July from the previous month as Beijing looks to accelerate infrastructure spending to stabilize the cooling economy. * Copper prices could face pressure as concerns ease over supplies from the world's biggest mine. The first workers to review a proposed labour pact at the world's largest copper mine, Chile's Escondida, are in favour of signing the new contract, union spokesman Carlos Allende said on Thursday. * For the top stories in metals and other news, click or MARKETS NEWS * Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week. DATA/EVENTS 0800 Euro zone Current account June 1400 U.S. Univ of Michigan sentiment index Aug 1400 U.S. Leading index July 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 = 6.8726 Chinese yuan) (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)
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