METALS-Most Shanghai base metals dip on China stimulus letdown

(Updates prices) Nov 11 (Reuters) - Most base metals slipped in Shanghai on Monday as top consumer China's latest stimulus package fell short of investors' expectations. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 closed 0.9% lower at 76,560 yuan ($10,653.16) a ton, while the three-month copper on the London Metal Exchange (LME) CMCU3 eased 0.2% at $9,425 per metric ton by 0750 GMT. SHFE aluminium SAFcv1 dropped 1.3% to 21,390 yuan a ton, nickel SNIcv1 declined 1.2% to 128,040 yuan, zinc SZNcv1 lost 0.9% to 24,975 yuan, tin SSNcv1 eased 0.1% to 261,400 yuan, while lead SPBcv1 inched up 0.4% to 16,945 yuan. "Copper prices may continue to remain muted at this juncture unless Chinese policy makers do more to boost the economy," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific. China's top legislative body approved a $1.4 trillion package on Friday to ease local government's "hidden debt" burdens rather than directly injecting money into the world's second-biggest economy, as some investors had hoped. Data showed that China's consumer prices rose at the slowest pace in four months in October, while producer price deflation deepened. Investors will be watching key China economic data this week to gauge demand, said Daniel Hynes, senior commodity strategist at ANZ. Elsewhere, the U.S. dollar edged higher, making greenback-priced metals more expensive for other currency holders. USD/ Meanwhile, investors are worried that Donald Trump's return to the White House would see an escalation in trade tensions with China as the president-elect has threatened tariffs in excess of 60% on all Chinese goods. "Trump's trade tariffs will definitely be negative for copper. But like in 2016, if he plans to improve US infrastructure, it could boost copper demand," Wong said. Copper inventories in warehouses monitored by the SHFE fell 8.8% from Nov. 1, the exchange said on Friday, a sign of improving demand. LME aluminium CMAL3 fell 0.8% to $2,600 a ton, zinc CMZN3 decreased 0.1% to $2,976, nickel CMNI3 decreased 1.5% to $16,160, lead CMPB3 added 0.1% to $2,026.5, and tin CMSN3 rose 0.7% to $31,875. For the top stories in metals and other news, click TOP/MTL or MET/L (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sumana Nandy, Subhranshu Sahu and Rashmi Aich) (([email protected];)) (( For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))