Nov 9 (Reuters) - Prices of most base metals fell on Thursday as uncertainty in the economic recovery in China, the world's biggest metals consumers, weighed on sentiment.
Three-month copper on the London Metal Exchange fell 0.5% to $8,098 per metric ton by 0354 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange declined 0.5% to 67,030 yuan ($9,203.12) a ton.
China's consumer prices swung back into contraction and factory-gate deflation persisted in October as domestic demand struggled, weighing on the outlook for any broad-based recovery in the world's second-largest economy.
Earlier data showed a mixed picture of Chinese economic performance. Manufacturing activities and exports slowed in October, but imports unexpectedly grew, with copper imports hitting a 10-month high.
"A continued rebound in copper prices may require substantial improvement in the economy," said Jinrui Futures in a note.
Sentiment was also cautious as traders and investors eyed developments in troubled Chinese property giant Country Garden . The real estate sector is one of the biggest consumers of metals.
LME aluminium eased 0.2% to $2,258 a ton, nickel declined 0.6% to $17,990, zinc shed 0.4% to $2,600.50, lead was almost flat at $2,190, and tin was down 0.6% at $24,740.
SHFE aluminium fell 0.4% to 19,150 yuan a ton, while nickel rose 1.7% to 141,540 yuan, zinc edged up 0.2% at 21,665 yuan, lead increased 0.2% to 16,495 yuan, and tin advanced 0.2% to 210,010 yuan.
The LME cash lead contract was traded at a 60-cent-a-ton
premium over the three-month contract
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DATA/EVENTS (GMT)
0800 EU EU finance ministers meet likely to continue
discussions of changes to the EU debt and
deficit rules
1330 US Initial Jobless Clm Weekly
($1 = 7.2834 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Mrigank Dhaniwala)