METALS-Copper falls below $9,000 level as bleak demand outlook weighs

(Recasts, updates prices) BEIJING, July 25 (Reuters) - London copper fell further on Thursday to trade below the $9,000 per-metric-ton level for the first time since early April, amid sell-offs among investors with a darkening demand outlook by China. Three-month copper on the London Metal Exchange CMCU3 fell 1.4% to $8,981.50 per ton by 0735 GMT, marking the ninth straight session of decline and the lowest level since April 3. The most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.4% to 73,030 yuan ($10,084.79) a ton, also a more than three-and-half month low. Funds were leaving the market with uncertainty in U.S. politics and growing fears about demand in China after a key political gathering last week did not announce any specific measures to boost the economy and revive the property sector, analysts said. Physical demand for the metal used in power and construction remained weak amid high inventories. "There's no demand and (there are) lots of production cuts and suspensions among copper product producers," a Chinese copper product producer said. Metals also tracked global equity market losses. The S&P 500 and Nasdaq closed at multi-week lows on Wednesday, as lackluster earnings from Tesla and Alphabet undermined investor confidence in megacap tech names that had previously driven 2024's equity rally. LME lead CMPB3 slid 0.6% to $2,032.50 a ton, zinc CMZN3 moved 1.8% lower to $2,632.50, tin CMSN3 slipped 2.3% to $29,110, nickel CMNI3 ticked 0.9% lower to $15,685, and aluminium CMAL3 shed 0.9% at $2,280.50. SHFE aluminium SAFcv1 was down 0.7% to 19,175 yuan a ton, nickel SNIcv1 tumbled 3% to 124,550 yuan, lead SPBcv1 dropped 1.3% to 18,725 yuan, tin SSNcv1 moved down 2.7% to 241,120 yuan and zinc SZNcv1 declined 1.7% to 22,570 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L ($1 = 7.2416 Chinese yuan renminbi) (Reporting by Siyi Liu and Mei Mei Chu; Editing by Subhranshu Sahu and Janane Venkatraman) (([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 ))