* Copper on track to log multiple weeks of losses * China spot base metals prices lower than futures prices * Weekend's G20 summit eyed * Coming up: U.S. Non-farm payrolls, Oct; 1230 GMT (Updates prices; adds quotes, details) By Carrie Ho SHANGHAI, Nov 2 (Reuters) - London copper fell on Friday, putting it on track to post its fourth week of losses as a result of investor caution ahead of the release of U.S. jobs data, and uncertainty about Chinese copper demand. The London base metals complex edged down 0.4 percent on a weighted average basis by 0713 GMT. Market participants were concerned about sluggish demand for metal in China, where spot prices have been trading at a discount to front-month futures prices. "Overall, investors are bearish about copper due to weak physical demand in China, which many thought should have improved by now," said a Shanghai-based trader. "While we may see prices inch down gradually in the near term, I doubt we will see a deep plunge this year since the economic data out of China and the U.S. have been encouraging." Surveys on Thursday showed Asia's large economies started to pick up steam last month after a year of slower growth and U.S. manufacturing improved modestly. Another positive sign was data showing U.S. companies added jobs at the fastest pace in eight months in October. Still, investors were likely to remain cautious ahead of the more important non-farm payrolls numbers, due at 1230 GMT on Friday. Three-month copper on the London Metal Exchange ticked down 0.5 percent to $7,785 per tonne and was heading for a 0.4 percent weekly fall, which would mark its fourth consecutive week of losses. The most active February copper contract on the Shanghai Futures Exchange closed the day 0.9 percent lower at 56,620 yuan ($9,100) per tonne, and the week 0.6 percent lower, its sixth consecutive week of losses. Investors will also be eyeing this weekend's Group of 20 summit of world finance chiefs. Among the issues in focus are the fiscal problems faced by the U.S. and the euro zone. In industry news, Japan Pan Pacific Copper sold 120,000 tonnes of copper to China under a 2013 term contract at $85 premium, sources said. Glencore International Plc said its closely watched trading operations performed "strongly" in the third quarter, against a more uneven picture for its mines, where strikes and Congolese power cuts dampened growth. CHINA'S ZINC IMPORTS RISE Traders have imported more zinc ingots into China recently, taking advantage of lower LME prices, though consumer demand remains weak, said Shanghai Metals Market analyst Zeng Tong. "Sales enquiries for zinc imports surged recently as the arbitrage window has been open since last week. Zinc import premiums have jumped $10 this week to $130-140 from $120-130 last week," she added. Chinese downstream demand for zinc was tepid, with spot prices trading at a discount of up to 290 yuan to ShFE front-month futures prices. "Consumers are still shying away from stocking up due to zinc's uncertain outlook and current high premiums. Traders, on the other hand, have been buying zinc on the physical market, while selling on the futures market to take advantage of the LME-ShFE arbitrage and spot-over-paper discount," Zeng said. Base metals prices at 0713 GMT Metal Last Change Pct Move YTD pct chg LME Cu 7785.00 -41.00 -0.52 2.43 SHFE CU FUT FEB3 56620 -490 -0.86 1.78 LME Alum 1936.50 -3.50 -0.18 -4.13 SHFE AL FUT JAN3 15360 25 +0.16 -3.03 HG COPPER DEC2 353.25 -1.95 -0.55 2.81 LME Zinc 1880.00 -9.00 -0.48 1.90 SHFE ZN FUT FEB3 14875 -30 -0.20 0.54 LME Nickel 16300.00 0.00 +0.00 -12.88 LME Lead 2117.25 -9.25 -0.43 4.04 SHFE PB FUT 15270 -10 -0.07 -0.13 LME Tin 20415.00 40.00 +0.20 6.33 LME/Shanghai arb 236 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month ($1 = 6.2405 Chinese yuan)

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