METALS-Copper falls for 2nd day as U.S. casts doubt on trade deal

 (Adds analyst comment, updates prices)
    BEIJING, May 24 (Reuters) - London copper slipped for a
second session on Thursday, after U.S. President Donald Trump
said any trade deal with China would "need a different
structure" and Washington launched a probe into auto imports
that could lead to new tariffs. 
    Copper had rallied at the start of the week after U.S.
Treasury Secretary Steven Mnuchin said the prospect of a
U.S.-China trade war, following the imposition of U.S. tariffs
on steel and aluminium, was "on hold". 
    Industrial metals are suffering "under the risk-off tone in
the markets, following signs that trade negotiations between the
U.S. and China are not progressing as well as initially
thought," ANZ wrote in a note. 
    Copper is the "commodity most leveraged to the global
economic cycle," it said. 
    * LME COPPER: Three-month copper on the London Metal
Exchange was down 0.1 percent to $6,858.50 a tonne by
0419 GMT, extending a 1.6 percent drop from the previous
    * SHFE COPPER: The most-traded July copper contract on the
Shanghai Futures Exchange shed 1 percent to 51,360 yuan
($8,035.67) a tonne by the mid-session interval, snapping a
five-day winning streak.
    * GRASBERG: Rio Tinto confirmed on Wednesday that
it was in discussions to sell its interest in the world's
second-largest copper mine to Indonesia's state mining holding
company Inalum. 
    * INDIA: One person died and others were wounded by gunfire
in southern India on Wednesday in fresh violence related to
protesters' demands that a copper smelter be shut on
environmental grounds.
    * RUSAL: Also, Russian aluminium firm Rusal
resumed shipments to some customers last week following an
extension of the deadline for companies to wind down contracts
with the Russian company under U.S. sanctions, sources said.

    * RUSAL: Rusal, one of the world's biggest producers of the
metal, said on Thursday its chief executive and seven board
members have quit, and warned it may have problems servicing its
debt due to the impact of U.S. sanctions. 
    * ALUMINIUM: Aluminium was up 0.5 percent in London
after Rusal's warnings on its debt troubles. The metal added 0.8
percent in Shanghai. 
    For the top stories in metals and other news, click       
    0600  Germany     Detailed GDP Q1
    0600  Germany     GfK consumer sentiment Jun
    0645  France    Business climate May
    1130  European Central Bank releases April meeting minutes
    1230  U.S.    Weekly jobless claims
    1300  U.S.    Monthly home price index Mar
    1400  U.S.      Existing home sales Apr           
 BASE METALS PRICES                       0427 GMT
 Three month LME copper                       6856
 Most active ShFE copper                     51360
 Three month LME aluminium                    2287
 Most active ShFE aluminium                  14745
 Three month LME zinc                         3033
 Most active ShFE zinc                       23430
 Three month LME lead                         2490
 Most active ShFE lead                       20430
 Three month LME nickel                      14605
 Most active ShFE nickel                    108030
 Three month LME tin                         20545
 Most active ShFE tin                       147560
 BASE METALS ARBITRAGE                            
 LME/SHFE COPPER             LMESHFCUc3     315.14
 LME/SHFE ALUMINIUM          LMESHFALc3   -2264.05
 LME/SHFE ZINC               LMESHFZNc3     381.47
 LME/SHFE LEAD               LMESHFPBc3      214.6
 LME/SHFE NICKEL             LMESHFNIc3   -2557.48
    ($1 = 6.3915 Chinese yuan)

 (Reporting by Tom Daly; Editing by Joseph Radford and Tom

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