* China stocks end lower on lean factory gate inflation
* GRAPHIC-2018 asset returns: (Adds closing prices)By Maytaal AngelLONDON, Oct 16 (Reuters) - Copper prices slid on Tuesdayamid lean factory-gate inflation data in China and naggingconcerns about global growth, trade tensions and rising U.S.interest rates.Chinese stocks fell overnight after data showed factory-gateinflation in the world's top copper consumer had cooled for athird straight month in September.A degree of calm returned to battered global stock markets,although caution prevailed given tensions with Saudi Arabia,trade worries and concerns over a global growth slowdown. "Nothing positive has come along. Trade tensions (betweenthe United States and China) could (go) into next year, oilprices are up and (U.S.) interest rates are rising," saidWilliam Adams, head of research at Fastmarkets.
He added that while copper's supply-side fundamentals arestrong, they will only start driving prices higher once themacro-economic headwinds subside, which is not on the cards inthe near term.
COPPER PRICE: Three-month copper on the London MetalExchange ended down 1.4 percent at $6,215.50 tonne. Themetal has been range-bound since mid-September but is downaround 14 percent since its June peak.
STEEL: The World Steel Association doubled its 2018 and 2019forecasts for growth in global demand for the material used insectors from cars to construction, but said trade tensions wereclouding the market's outlook. "(Base metals) will continue to see choppy price actionamidst ongoing macro uncertainty, although given the morebullish micro situation we look at price dips as buyingopportunities," Marex Sepctron said in a note.
The broker pointed to low warehouse inventories and said itis likely that "any ratchet higher in trade tensions (should)result in China resorting to infrastructure stimulus to supportgrowth".
COPPER PREMIUMS: Yangshan copper import premiums have been hovering near $120 since late-September,levels last seen in 2015, indicating strong demand.COPPER PROJECTS: The world's biggest miner BHP hasnearly doubled its stake in SolGold Plc <SOLG.L as it eyesSolGold's promising Cascabel copper-gold project in Ecuador. COPPER TAX: The Polish government is working on amending taxlaws, which could lead to tax deductions of up to 5 percent oncertain minerals. NICKEL: Major Brazilian mining company Vale willonly make new investments in nickel if global prices rise toaround $20,000 per tonne, the firm's chief executive said onTuesday. METAL PRICES: Aluminium ended up 0.4 percent at$2,034 a tonne, zinc closed up 0.3 percent at $2,606,lead ended down 0.9 percent at $2,065.50, tin closed up 0.3 percent at $19,200 while nickel ended down0.2 percent at $12,595.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Top Base and Precious Metals Analysis - GFMS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Naveen Thukral, editing by DavidEvans/Keith Weir/Jane Merriman)