METALS-Copper prices dip in London, but China data, Fed optimism cap downside

Sept 3 (Reuters) - London copper prices edged lower on Wednesday, giving up some of the gains from the previous session, although upbeat Chinese economic data and optimism over U.S. rate cuts helped limit the decline.

Three-month copper on the London Metal Exchange CMCU3 was down 0.06% at $9,975, as of 0225 GMT, after hitting a more than five month high at the start of trading which was delayed by 90 minutes in Asia on Wednesday.

The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 rose 0.58% to 80,240 yuan ($11,217.83) a ton.

Surveys of purchasing managers in China's manufacturing sector showing expansion in August due to a rise in new orders indicate healthier demand prospects for industrial metals.

Among other London metals, aluminium CMAL3 lost 0.19% to $2,614 a ton, nickel CMNI3 eased 0.05% to $15,225, and tin CMSN3 fell 0.05% to $34,715, while zinc CMZN3 gained 0.09% to $2,867.5 and lead CMPB3 was flat at $1,994.

SHFE aluminium SAFcv1 edged up 0.19% to 20,755 yuan, lead SPBcv1 strengthened 0.09% to 16,890 yuan, and zinc SZNcv1 climbed 0.2% to 22,310 yuan, while nickel SNIcv1 eased 1.36% to 121,470 yuan and tin SSNcv1 lost 0.4% to 273,250 yuan.

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