* Copper down 1.2 pct on LME, down 0.3 pct on ShFE * HSBC China PMI rises to 49.9 in August from 49.3 in July * New export orders shows contraction for fourth month * Brazil cuts key interest rate to 12 pct on weaker growth * Coming Up: U.S. ISM manufacturing index, Aug; 1400 GMT (Updates prices, adds quotes, details) By Carrie Ho SHANGHAI, Sept 1 (Reuters) - Copper fell on Thursday, weighed down by a fall in China's export orders and wider concerns about the global economy ahead of Friday's key U.S. employment data. But supply disruption threats and hopes for further quantitative easing in the United States may limit losses. Three-month copper on the London Metal Exchange fell 1.2 percent to $9,167.25 a tonne by 0715 GMT, after rising 1.3 percent in the previous session. The most-active November copper contract on the Shanghai Futures Exchange SCFc3 edged down 0.3 percent to close at 68,190 yuan per tonne, paring early gains after Shanghai equities fell. China's factory activity steadied in August owing to solid domestic demand, a pair of surveys showed on Thursday, but tight monetary policy at home and torpid demand abroad have dimmed chances for a sustained recovery in the manufacturing sector. Brazil's central bank cut its key interest rate to 12 percent from 12.5 percent on Wednesday in a shock decision that it said reflects a widening global slowdown as well as weaker growth in Latin America's largest economy. China Premier Wen Jiabao signalled on Thursday that controlling inflation will remain a top priority in coming months even as the world economy wobbles. Analysts said this slapped down rumours in investment circles during the past few days that Beijing might be leaning towards a looser monetary policy. "LME copper surged past its 60-day moving average, a major resistance level, and is struggling to stay above it, indicating investors' caution," said Jinrui Futures analyst Zhao Kai. "Prices are mostly reacting to less upbeat news from the macroeconomic side. The slight rise in China's PMI figures did not seem like a sustainable trend since new export orders in August are not great, while Premier Wen's speech showed that there will be more tightening to come." Chile, which provides around a third of the world's copper, produced 373,498 tonnes of the metal in July, down 18 percent from the same month last year, the government said on Tuesday. "Despite bullish factors such as a sharp drop in Chile's copper output, the market hasn't reacted that positively, reflecting ongoing concerns about the global economy," Standard Chartered Bank analyst Judy Zhu said. "And it's natural that trading is a bit directionless ahead of the nonfarm payroll data tomorrow. Investors may react to any new market talk during this time, but before that, prices will be moving sideways from current levels." The Federal Reserve could ease monetary policy further if economic conditions deteriorate and should not rule out any policy options, a top official of the U.S. central bank said on Wednesday. Base metals prices at 0715 GMT Metal Last Change Pct Move YTD pct chg LME Cu 9167.25 -107.75 -1.16 -4.51 SHFE CU FUT NOV1 68190 -170 -0.25 -5.09 LME Alum 2461.00 -8.00 -0.32 -0.36 SHFE AL FUT NOV1 17465 -05 -0.03 3.71 HG COPPER SEP1 414.80 -3.70 -0.93 -6.57 LME Zinc 2246.00 -46.00 -2.01 -8.48 SHFE ZN FUT NOV1 17205 -155 -0.89 -11.66 LME Nickel 21974.00 -226.00 -1.02 -11.22 LME Lead 2543.00 -37.00 -1.43 -0.27 SHFE PB FUT 16785 -170 -1.00 -8.53 LME Tin 24300.00 -100.00 -0.41 -9.67 LME/Shanghai arb 237 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month

Source