BEIJING  - Base metals prices fell sharply on Monday on reports that the United States may be about to impose tariffs on another $200 billion worth of Chinese goods.

The tit-for-tat trade row between the world's top two economies has left investors fearing that demand for industrial metals will soften.

U.S. President Donald Trump is likely to impose the tariffs, which were first unveiled in July, as early as Monday, a senior administration official told Reuters on Saturday.

"All eyes will be on trade talks, with the likelihood of further U.S. tariffs on Chinese imports likely to weigh on industrial commodity prices," ANZ wrote in a note.

FUNDAMENTALS

* COPPER: Three-month copper on the London Metal Exchange fell as much as 1.9 percent to $5,861.50 a tonne and stood at $5,894.50 a tonne as of 0457 GMT. The most-traded November copper contract on the Shanghai Futures Exchange slipped 1.4 percent to 47,910 yuan ($6,976.64) a tonne by the mid-session interval.

* COPPER PREMIUMS: Chinese copper import premiums are currently assessed at $96 a tonne, the highest since February 2016, as low prices tempt bargain-hunters, propping up demand for physical metal.

* CHINA: China's fixed-asset investment growth slowed to 5.3 percent in the first eight months of the year, below forecasts and hitting a new record low, data showed on Friday.

* OTHER METALS: LME nickel fell furthest, tumbling as much as 3.2 percent overnight to $12,250 a tonne, its lowest since Sept. 12, before trimming losses to 2.4 percent. Only Shanghai tin was in positive territory, inching up 0.4 percent.

* TAXES: Chile's congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters.    

* HYDRO/RIO: Norway's Hydro said on Friday it had dropped plans to buy several of Rio Tinto's, assets, including an aluminium  plant in Iceland, after approval from European Commission regulators took longer than anticipated.        

MARKETS NEWS   

* Most Asian share markets slipped on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.    

(Reporting by Tom Daly; Editing by Vyas Mohan and Richard Pullin)

© Reuters News 2018