LONDON, Oct 16 (Reuters) - Copper prices slid on Tuesday
amid lean factory-gate inflation data in China and nagging
concerns about global growth, trade tensions and rising U.S.
interest rates.
    Chinese stocks fell overnight after data showed factory-gate
inflation in the world's top copper consumer had cooled for a
third straight month in September.             
    A degree of calm returned to battered global stock markets,
although caution prevailed given tensions with Saudi Arabia,
trade worries and concerns over a global growth slowdown.
    "Nothing positive has come along. Trade tensions (between
the United States and China) could (go) into next year, oil
prices are up and (U.S.) interest rates are rising," said
William Adams, head of research at Fastmarkets. 
    He added that while copper's supply-side fundamentals are
strong, they will only start driving prices higher once the
macro-economic headwinds subside, which is not on the cards in
the near term.
    COPPER PRICE: Three-month copper on the London Metal
Exchange         ended down 1.4 percent at $6,215.50 tonne. The
metal has been range-bound since mid-September but is down
around 14 percent since its June peak. 
    STEEL: The World Steel Association doubled its 2018 and 2019
forecasts for growth in global demand for the material used in
sectors from cars to construction, but said trade tensions were
clouding the market's outlook.             
    "(Base metals) will continue to see choppy price action
amidst ongoing macro uncertainty, although given the more
bullish micro situation we look at price dips as buying
opportunities," Marex Sepctron said in a note. 
    The broker pointed to low warehouse inventories and said it
is likely that "any ratchet higher in trade tensions (should)
result in China resorting to infrastructure stimulus to support
    COPPER PREMIUMS: Yangshan copper import premiums
SMM-CUYP-CN have been hovering near $120 since late-September,
levels last seen in 2015, indicating strong demand.
    COPPER PROJECTS: The world's biggest miner BHP          has
nearly doubled its stake in SolGold Plc <SOLG.L as it eyes
SolGold's promising Cascabel copper-gold project in Ecuador.
    COPPER TAX: The Polish government is working on amending tax
laws, which could lead to tax deductions of up to 5 percent on
certain minerals.             
    NICKEL: Major Brazilian mining company Vale            will
only make new investments in nickel if global prices rise to
around $20,000 per tonne, the firm's chief executive said on
    METAL PRICES: Aluminium         ended up 0.4 percent at
$2,034 a tonne, zinc         closed up 0.3 percent at $2,606,
lead         ended down 0.9 percent at $2,065.50, tin        
closed up 0.3 percent at $19,200 while nickel         ended down
0.2 percent at $12,595.