* GRAPHIC-2019 asset returns: (Recasts, updates with closing prices) By Eric Onstad LONDON, Sept 25 (Reuters) - Copper prices erased losses onWednesday after U.S. President Donald Trump held out theprospect of end to a trade war with top metals consumer China. Trump told reporters in New York that a deal to end a nearly15-month trade war with China could happen "sooner than youthink". Within minutes of the news appearing, copper prices jumped,cancelling out losses suffered partly due to Trump making ahard-hitting speech a day earlier attacking China's tradepractices. Three-month copper on the London Metal Exchange ended the day barely changed, edging up 0.1% to $5,786 a tonnein final open-outcry trading. The market was still unsettled following the decision byU.S. Democrats on Tuesday to hold impeachment hearings intoTrump and the release on Wednesday of a summary of a call Trumpmade to Ukraine's president asking for a probe into a politicalrival. "The markets are not only being driven by the U.S.-Chinatrade issue...(but) the broad risk aversion sentiment due to thelatest events in the UK and U.S., maybe primarily in the U.S.,"said Xiao Fu, head of commodity market strategy at Bank of ChinaInternational in London. "In copper I think there's a tug of war between the macroheadwinds and the fundamentals, because inventory levels arequite low, so we may see rangebound trade." Copper has shed about 4% since touching a 1-1/2 month peakon Sept. 13, weighed down by worries about a slowdown in topmetals consumer China as well as U.S.-China trade tensions. * COPPER STOCKS: On-warrant LME copper inventories -material that is not earmarked for delivery - fell to 183,925tonnes, the lowest since May 28, data showed.* NICKEL: LME benchmark nickel rose 0.8% to close at$17,325 a tonne after data showing that China's refined nickelimports more than doubled year on year in August and shipmentsfrom top producer Indonesia rose 26.5% year on year. * CHINA STAINLESS STEEL: Chinese stainless steel futures fell 2% in their first session of trading, afterTrump's rebuke of China fanned demand concerns. The bulk ofnickel is used as an alloy to make stainless steel. "Consumers (for nickel) have backed off with Chineseanalysts pointing to concerns around the state of theirstainless steel industry - high output, elevated stockpiles,"Alastair Munro at broker Marex Spectron said in a note.
* LEAD: LME lead climbed 2.4% to end at $2,107 atonne, getting support from a large position in LME inventories.Data showed one party had 50%-70% of available LMEstocks.* DOLLAR: Also weighing on metals markets was a strongerdollar index , making metals priced in the U.S. currencymore expensive for buyers using other currencies.* PRICES: LME aluminium fell 0.6% to close at athree-week low of $1,752 a tonne, zinc gained 0.4% to$2,290 after touching $2,260, also a three-week low, and tin added 0.2% to $16,530. * For the top stories in metals and other news, click or (Reporting by Eric Onstad; editing by David Evans/LouiseHeavens/Susan Fenton/Jane Merriman)
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