SINGAPORE, Oct 16 (Reuters) - Copper prices dipped on Wednesday as Chile's Antofagasta Minerals , one of the world's top copper producers, averted a labour strike at a copper mine after reaching an agreement with its employees. The copper producer reached a labour agreement with a union of supervisors at its flagship Los Pelambres mine in Chile, and the newly inked 36-month contract includes a 1% hike in salaries, a signing bonus of $17,000 as well as loan incentives for workers, Antofagasta said in a statement. Three-month copper on the London Metal Exchange (LME) was down 0.2% at $5,764 a tonne, as of 0216 GMT, while the most-traded copper contract on the Shanghai Futures Exchange (ShFE) dipped 0.1% to 46,880 yuan ($6,609.61) a tonne. Prices were also pressured as demand for copper remained subdued amid an ongoing trade war between the United States and China, the world's two biggest economies and also major copper users. The International Monetary Fund warned on Tuesday that the U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis. FUNDAMENTALS * COPPER: Australia's OceanGold Corp lowered its 2019 copper output target to 10,000-11,000 tonnes, from 14,000-15,000 tonnes previously, after it suspended its Didipio mine in the Philippines citing a dispute with local government. * KAZAKHSTAN: Kazakhstan's output of refined copper rose 11% in January-September to 354,836 tonnes, while refined zinc output was down 0.9% during the same period to 235,914 tonnes, Statistics Committee data showed on Tuesday. * ZINC: LME zinc fell 0.8%, after hitting its highest in two-and-a-half months in the previous session amid low inventories caused by a bottle-neck issue at the smelting stage and exacerbated by recent smelter outages. * CHINA LOANS: China's banks extended more-than-expected new yuan loans in September, as policymakers ramped up support to stabilise the slowing economy during a bruising trade war with the United States. * NICKEL: Shanghai nickel fell to as low as 131,750 yuan a tonne, its lowest since Aug. 30, amid weak demand from both the stainless steel and electric-vehicle sectors. * "We are of the view that the short-term sales sluggishness due to subsidies reduction put the brake on the break-neck growth in electric-vehicle industry," said analyst Helen Lau of Argonaut Securities in a note. * PRICES: LME aluminium declined 0.1%, nickel fell 0.5%, lead rose 0.1% and tin advanced 0.4%. Shanghai aluminium rose 0.4%, zinc fell 0.5%, while tin climbed 1.2%. * For the top stories in metals and other news, click or MARKETS NEWS * Asian shares took off and sterling held near six-month highs as Britain and the EU made headway on a Brexit deal ahead of a leaders' summit though it remained unclear if London could avoid postponing its scheduled departure on Oct. 31. DATA/EVENTS (GMT) 0830 UK CPI YY Sept 0900 EU HICP Final MM, YY Sept 1230 US Retail Sales MM Sept 1800 US Federal Reserve issues the Beige Book 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 = 7.0927 Chinese yuan) (Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips)
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