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RTRS:LME copper dips on slowdown fears, Chile strike supports
 
SHANGHAI (Reuters) - LME copper edged lower towards the end of Asian trading hours on Tuesday, weighed down by weak manufacturing data in the United States, Asia and Europe which stirred worries about a slowing global economy.

The contract had risen 0.8 percent to a session high of $9,726, supported by the continued strike at the world's biggest copper mine, Escondida in Chile, before paring the early gains.

Three-month copper on the London Metal Exchange edged down 0.1 percent to $9,636.25 a tonne by 0727 GMT, after falling 1.8 percent in the previous session.

The most-active October copper contract on the Shanghai Futures Exchange fell less than 2 percent to close at 72,010 yuan per tonne, after rising 1.1 percent in the previous session.

"China's weak PMI and data out of other parts of the world have caused concerns about a slowing global economy. The high price of copper is also deterring restocking by end users in China," Shanghai Dongzheng futures analyst Du Xiao Hua.

U.S. manufacturing grew at its slowest pace in two years in July as new orders contracted, casting doubt on expectations the faltering recovery would quickly regain steam.

The world's manufacturing sector expanded at its weakest pace in two years last month, as factories reported shrinking orders for the first time since major economies recovered from the banking crisis and recession of 2008, surveys showed on Monday.

China's factories struggled with their weakest activity in 28 months in July, a pair of surveys showed on Monday, as manufacturers grappled with credit shortages and softening global demand.
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