* Lead hits 15-month peak, zinc strongest since end-July
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, Oct 18 (Reuters) - Copper prices rose on Fridayafter positive Chinese data on property and infrastructuregrowth, while zinc and lead hit multi-month highs as investorsworried about shortages.Industrial metals prices were volatile after China'seconomic growth slowed slightly more than expected to 6%year-on-year in the third quarter, the weakest pace in almostthree decades. Prices headed higher, though, as investors digested thedata, which also showed China's property investment grew 10.5%in the first nine months of 2019, infrastructure investment rose4.5% and industrial output outpaced forecasts at 5.8% inSeptember."There was a slight re-acceleration in property new startsgrowth, which is quite an important signal given a lot ofpessimism about the Chinese property sector," said NicholasSnowdon, an analyst at Deutsche Bank in London."There was also a slight pickup in infrastructure
investment growth, so the two key drivers of on-shore metalsdemand were slightly on the positive side, but they're nothingto get too carried away about."
A Singapore-based metals trader said China was likely toroll out further stimulus measures in sectors such as realestate and infrastructure to boost growth in the fourth quarter.Three-month copper on the London Metal Exchange (LME) gained 1.2% to $5,806 a tonne in final open-outcrytrading after edging up 0.2% a day earlier.
* COMMODITY OUTLOOK: The outlook for commodities in 2020 isexpected to brighten, Capital Economics said in a note."We expect global economic growth to pick up over the courseof the year, which in turn will prompt a rise in investor riskappetite. Both developments should give a boost to commoditiesdemand," said Caroline Bain, chief commodities economist.
* ZINC: LME benchmark zinc rose 0.7% to close at$2,457 a tonne, the highest since July 30.
Some analysts have pointed to smelter shutdowns astightening supply, but Deutsche Bank's Snowdon said that was notthe only driver."I think demand has held up better than expected, and that'ssupported refined imports at a higher level than would have beenanticipated and in turn why the ex-China markets are stayingtight," he said.
* LEAD SPREAD: The premium of LME cash lead over thethree-month contract surged to $21.75 a tonne byThursday's close, the highest since August and up from $8 a dayearlier, indicating tight nearby supplies in LME warehouses.The shortages were also linked to a large position, traderssaid, after LME data showed one party held 80-89% of availableinventories and short-term futures.
LME lead gave up 0.4% to $2,181 a tonne, reversingdirection after hitting $2,214.50, the highest since July lastyear.
* PRICES: LME aluminium rose 0.6% to finish at$1,738 a tonne, nickel dipped 0.3% to $16,230 and tin shed 1.2% to $16,950.
* For the top stories in metals and other news, click or (Additional reporting by Mai Nguyen in Singapore; Editing byMark Potter and Elaine Hardcastle)