METALS-Base metals fall as weak China, US data sparks demand worries

BEIJING, Aug 2 (Reuters) - Base metals fell on Friday as weak manufacturing data from the United States and China exacerbated worries about the global economic outlook and sparked more demand concerns. Three-month copper on the London Metal Exchange CMCU3 was down 0.3% to $9,030 per metric ton by 0215 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 lost 1.9% to 73,550 yuan ($10,157.44) a ton. Prices of copper, often seen as an economic bellwether, were little changed on a weekly basis after three straight weeks of declines, with subdued demand, high inventories and a lack of specific stimulus from China for its struggling housing sector weighing on the market. Factory activity in China, the world's top metals consumer, contracted for the first time in nine months in July, a private sector survey showed on Thursday. The reading was in line with an official PMI survey on Wednesday showing manufacturing activity slipped to a five-month low. Meanwhile, a measure of U.S. manufacturing activity dropped to an eight-month low in July amid a slump in new orders. Investors were awaiting the monthly payrolls report from the United States later in the day to gauge the health of the world's largest economy. LME aluminium CMAL3 lost 0.6% at $2,282 a ton, zinc CMZN3 moved 0.9% lower to $2,683, tin CMSN3 slid 1.2% to $29,525, lead CMPB3 slipped 0.8% to $2,045, and nickel CMNI3 shed 0.3% to $16,235. SHFE aluminium SAFcv1 was 0.8% lower at 19,135 yuan a ton, zinc SZNcv1 declined 0.4% to 22,765 yuan, tin SSNcv1 fell 1.4% to 247,220 yuan, nickel SNIcv1 dropped 1.9% to 130,390 yuan and lead SPBcv1 tumbled 3.8% to 18,145 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L ($1 = 7.2410 Chinese yuan) (Reporting by Siyi Liu and Mei Mei Chu; Editing by Subhranshu Sahu) (([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 ))