METALS-Base metals rangebound with focus on Sino-US trade talks, Fed rate moves

BEIJING, Sept 15 (Reuters) - Base metals in Shanghai and London were largely rangebound on Monday as revived concerns over trade tensions between the world's two-largest economies offset the optimism of a U.S. Federal Reserve rate cut.

U.S. and Chinese officials will start another round of talks on Monday after concluding a first day of talks in Madrid on Sunday on their strained trade ties.

Washington demands its allies place tariffs on imports from China over its purchases of Russian oil, while Beijing initiated an anti-discrimination investigation into U.S. trade policy over chips on Saturday, as well as a separate investigation into dumping.

By 0247 GMT, SHFE copper SCFcv1 nudged up 0.09%, nickel SNIcv1 added 0.19% and lead SPBcv1 advanced 0.95% while aluminium SAFcv1 dipped 0.17%, zinc SZNcv1 edged down 0.09%, tin SSNcv1 shed 0.43%.

LME copper CMCU3 edged up 0.05%, aluminium CMAL3 nudged up 0.06%, nickel CMNI3 fell 0.33%, lead CMPB3 slid 0.32%, tin CMSN3 slipped 0.69%, and zinc CMZN3 dipped 0.05%.

Additionally, a batch of weak data from top consumer China weighed sentiment.

Outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy which is typically used by analysts as a gauge of industrial metals demand, rose 8.8% year-on-year in August, slowing from July's 9.0% pace.

China's new home prices fell 0.3% in August from the previous month, indicating that the housing market remained a drag on growth.

Also, investors focused on the U.S. Federal Reserve meeting this week, where policymakers are expected to announce a rate cut following consecutive weak labor market reports.

A softer U.S. currency makes dollar-priced commodities less expensive for buyers using other currencies.

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