Updates prices

By Mai Nguyen

Aug 8 (Reuters) -Copper prices fell on Thursday, hit by a jump in inventories and a pessimistic outlook for global growth, while risk-off sentiment across financial markets also took down most other base metals.

The most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 closed down 1.1% at 70,680 yuan ($9,867) a ton.

Three-month copper on the London Metal Exchange CMCU3 fell 0.5% to $8,730 per metric ton by 0726 GMT. The contract has lost 5.4% so far this month, extending a streak of consecutive monthly falls since June.

"The global economic growth cycle has turned lower," said Sandeep Daga, director at Metal Intelligence Centre.

"This means that all markets might synchronise and move together. With rising visible stocks and recovering treatment charges and refining charges (TC/RCs), copper bulls have no story left."

Rising TC/RCs, or the fees copper smelters charge miners to process raw material, imply an improvement in copper concentrate supply on the spot market, which has been tight - one reason for investors to be bullish on copper prices.

LME copper inventories MCUSTX-TOTAL jumped nearly threefold in just under three months to 294,750 tons on Wednesday. The recent deliveries went to LME warehouses in South Korea and Taiwan that are close to China.

Physical demand improved as prices fell, but the risk-off sentiment in financial markets would weigh on prices more than the physical side, said Daga.

LME aluminium CMAL3 declined 1.1% to $2,264 a ton, nickel CMNI3 dropped 1.2% to $16,095, lead CMPB3 decreased 1.2% to $1,944, tin CMSN3 fell 0.5% to $29,840 and zinc CMZN3 was down 0.4% at $2,571.

SHFE aluminium SAFcv1 was nearly flat at 18,945 yuan a ton, nickel SNIcv1 dropped 1.7% to 127,180 yuan, zinc SZNcv1 declined 0.8% to 21,835 yuan while lead SPBcv1 rose 0.1% to 17,345 yuan, and tin SSNcv1 advanced 0.3% to 245,360 yuan.

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Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich and Clarence Fernandez

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