* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Aug 15 (Reuters) - Copper slipped on Thursday afterChina said it would hit back against additional U.S. tariffs,fuelling fears over global growth and metals demand.
Some other industrial metals, however, clawed higher in thinvolumes as investors closed out bearish positions. China has to take necessary counter-measures to the latestU.S. tariffs on $300 billion of Chinese goods, the financeministry said on Thursday, while U.S. President Donald Trumpsaid any trade deal with China must be on U.S. terms. The macroeconomic situation remains bad despite hopes insome quarters for more stimulus to stabilise China's economyfurther, said Gianclaudio Torlizzi, partner at the T-Commodityconsultancy in Milan. "In the very short term we could see some more downside aslong as the macro doesn't improve," he said. "But if you have alonger-term view, we are approaching nice buying areas for thebig metals. It's a nice opportunity to get some exposure."
Metals fell on Wednesday after an inversion of U.S.government bond yields on Wednesday sparked fears that theworld's biggest economy would sink into recession, dragging therest of the globe with it. Benchmark copper on the London Metal Exchange shed0.2% to $5,751 a tonne in final open-outcry trading, afterdropping as far as $5,640 this month, setting a two-year low. * CHINA PROPERTY: Prices of new homes in China rose in Julybut the year-on-year growth of 9.7% was the weakest so far thisyear. The construction industry is one of the biggest consumersof industrial metals.* COPPER STOCKS: Copper inventories in LME-registeredwarehouses jumped 11%, or 29,950 tonnes, to 301,750 tonnes,indicating healthier short-term supplies.
* CHINA COPPER PREMIUMS: Shanghai copper premiums have risen 12% over the past two weeks to $68 atonne. "A combination of low stockpiles in China and an open arbwindow earlier this month prompted increased buying appetitefrom traders, particularly for nearby cargoes," BMO Capitalanalyst Colin Hamilton said in a note.
* NICKEL SPREADS: LME cash nickel flipped to a premium of$13 a tonne over the three-month contract by Wednesday's close. That was the strongest premium since mid-May and upfrom a discount of $11 a day earlier.
This indicates near-term shortages of metal in LMEwarehouses, which could be exacerbated by one party holding50%-80% of available nickel LME inventories, LME data showed. LME three-month nickel climbed 1.9% to finish at $16,250 atonne after hitting a 16-month high last week on concerns oversupply disruption in Indonesia. * ALUMINIUM: LME aluminium ticked 0.4% higher to endat $1,782 a tonne amid ongoing concerns about disruptions afterfloods in the smelting heartland of China's eastern province ofShandong.
* PRICES: LME zinc gained 0.4% to close at $2,264 atonne, lead rose 1.1% to $2,064 and tin added0.1% to $17,145. * For the top stories in metals and other news, click or (Additional reporting by Tom Daly in Beijing and Mai Nguyen inSingaporeEditing by David Goodman/Alexandra Hudson/Susan Fenton)
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