SINGAPORE, Oct 17 (Reuters) - Copper prices edged down on Thursday due to worries about a slowdown in global economic growth and falling demand for industrial metals.
Three-month copper on the London Metal Exchange fell 0.1% to $5,724.50 a tonne by 0223 GMT, while the most-traded copper contract on the Shanghai Futures Exchange declined 0.5% to 46,650 yuan ($6,573.11) a tonne.
U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy amid an ongoing trade war with China that has dragged to its 15th month.
“The International Monetary Fund warned that global economic risks have risen as central banks lower borrowing costs. The subsequent build-up of financial vulnerabilities could put medium term growth at risk,” said ANZ in a note.
“While (President Donald) Trump still expects a trade deal with China to be signed soon, tensions between the two countries remain fragile. All this created a bearish mood in the base metal market,” ANZ said.
* LEAD: Henan Yuguang Gold and Lead, China’s largest lead producer, plans to set up a lead-acid battery production line as part of a downstream expansion, a company official said on Wednesday.
* TRADE TALKS: U.S. and Chinese trade negotiators are working to nail down a Phase-1 deal text for their presidents to sign next month, while U.S. Treasury Secretary Steven Mnuchin said he was prepared to travel to Beijing for more meetings.
* LME FEES: The LME will raise its trading and clearing fees by 8% from January 2020, its first increase in five years to fund new projects and keep up with inflation, it said on Wednesday.
* PRICES: LME aluminium fell 0.1%, nickel declined 0.7%, zinc was down 0.8% while lead rose 0.4%. Shanghai aluminium advanced 0.4%, nickel fell 2.3%, zinc lost 0.9% while lead advanced 1.2%.
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* Global stocks barely moved as soft U.S. retail sales data raised concerns about the health of the world’s largest economy and risk of global recession, while sterling was volatile as negotiations on a Brexit deal continued.
0830 UK Retail Sales MM, YY Sept
0830 UK Retail Sales Ex-Fuel MM Sept
1230 US Housing Starts Number Sept
1230 US Initial Jobless Claims Weekly
1230 US Philly Fed Business Index Oct
1315 US Industrial Production MM Sept
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 = 7.0971 Chinese yuan renminbi) (Reporting by Mai Nguyen; Editing by Rashmi Aich)