(Updates prices as of 1618 GMT) By Polina Devitt LONDON, Aug 15 (Reuters) - Prices for copper and otherbase metals fell in London on Tuesday, as the outlook for demandfrom top consumer China worsened after data showed slowingindustrial output growth and falling property investment. Benchmark copper on the London Metal Exchange (LME)was down 1.2% at $8,191.5 a metric ton at 1618 GMT aftertouching its lowest since June 29 at $8,163.90, on course for afourth consecutive daily decline. Though slowing industrial production and declining propertyinvestment in China are applying price pressure, more supportivepolicies could prevent excessive declines, said Amelia Xiao Fu,head of commodity market strategy at Bank of ChinaInternational. Beijing cut key policy rates to shore up activity on Tuesdaybut analysts said more support was needed to revitalise growth. The discount for nearby delivery compared with thethree-month LME copper contract reached $55, itshighest since late May. Some support for metals came from a weaker U.S. currency,which makes dollar-priced metals more attractive for buyersholding other currencies. U.S. retail sales increased more than expected in July,suggesting the economy continued to expand early in the thirdquarter, helping to keep recession at bay. LME aluminium was flat at $2,145 a metric ton aftertouching its lowest since July 7 at $2,136.50. The discount fornear-term delivery compared with the three-month LME aluminiumcontract climbed to its highest since the global financialcrisis of 2008, indicating weak demand. Other growth-dependent metals were also down sharply, withLME nickel hitting its lowest since July 2022, at $19,760 permetric ton and zinc touching its weakest since June 6 at $2,305. LME's daily data showed large arrivals of zinc toLME-registered warehouses in Singapore. Nickel fell 1.6% to $19,765 and zinc lost1.8% to $2,307 while lead rose 1.4% to $2,126 and tin retreated by 0.9% to $25,100. (Reporting by Polina DevittAdditional reporting by Mai Nguyen in HanoiEditing by Devika Syamnath and David Goodman and Richard Chang)
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