* China retail sales growth slows, industrial output rises
* Nickel touches fresh 11-month low
* GRAPHIC-2018 asset returns: (Updates with closing prices, Lead and zinc balance)By Zandi ShabalalaLONDON, Nov 14 (Reuters) - Base metals held steady onWednesday as weak retail sales data from top consumer China tookthe shine off upbeat industrial output and investment figures inthe country.Benchmark copper on the London Metal Exchange (LME)ended 0.3 percent higher at $6,090 a tonne. The metal used inpower and construction was marginally lower in early trade.
"It has a bit to do with the negative reaction to retailsales in China and that stock markets there had been down andalso the ferrous metals complex was a bit weaker," an analystsaid.
Retail sales in China in October grew at their slowest pacesince May, pointing to a consumption slowdown, even as a pick-upin industrial output and investment suggested support measuresmay be starting to take hold. Meanwhile, a decline in oil prices late on Tuesday hitmetals and other assets such as equities which are seen asrisky, Commerzbank analyst Daniel Briesemann said.
ENERGY: Oil prices clawed back some losses on Wednesdayafter tanking around 7 percent in the previous session asinvestors were scared off by surging supply and the spectre offaltering demand. U.S.-CHINA TRADE: U.S. President Donald Trump's top economicadviser said "it's pretty clear now" that Trump would meet withChinese President Xi Jinping at the G20 summit later this montha day after China's top trade negotiator Liu He said he couldvisit Washington to prepare for the talks. CHINESE INVESTMENT: Chinese copper smelters are looking tomake more investments in mines, pushing to shore up supply ofconcentrate at a time when competition for the raw material isheating up, industry executives said. CHINA ALUMINIUM: China's primary aluminium output fell for athird straight month in October, as low aluminium pricesprompted smelters to cut production even beforegovernment-mandated winter restrictions kick in. LME aluminium ended up 0.4 percent to $1,943 pertonne, after touching a 15-month low on Tuesday.CHINA STEEL: Steel output in China, the world's topproducer, hit record levels in October, rising for a thirdstraight month as mills rushed to boost output ahead of winterproduction cuts. LEAD AND ZINC: The global lead market's deficit ballooned to 21,400 tonnes in September while zinc narrowed its deficit to54,700 tonnes.SPREAD: The premium for cash zinc over the three-monthcontract was at $56.50 a tonne, close to a one-yearhigh of $66.50 touched on Monday as concerns lingered over tightsupplies on the LME.
PRICES: Zinc inched 0.5 percent higher at $2,502 pertonne, lead edged up 0.1 percent to $1,953, tin added 0.2 percent to $19,305 while nickel touched afresh 11-month low, finished 0.3 percent lower at $11,315.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Top Base and Precious Metals Analysis - GFMS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Mai NguyenEditing by Alexandra Hudson and Edmund Blair)