METALS-Copper eases after data, lead hits 13-mnth high

* Lead hits 13-month high on China smelter shut-downs

* Equities weak after U.S. macro data; payrolls eyed

LONDON, Sept 3 - Copper retreated from earlier highs on Thursday, tracking equity markets lower as investors digested economic data in the United States, while lead hit a 13-month high on Chinese smelter closure worries.

At 1451 GMT, volatile copper for three-months delivery on the London Metal Exchange traded at $6,202 a tonne from a close of $6,175 on Wednesday, when the metal hit a near two-week low of $6,025.

Lead traded at $2,239 a tonne from $2,111, having earlier touched $2,249, its highest point since late July 2008.

On the economic calendar, the U.S. Institute for Supply Management (ISM) said its services index rose to 48.4 in August from 46.4 in July.

"The data was in line," said Edward Meir, commodities analyst at MF Global in New York. "The markets are not doing much if numbers come out in line with estimates (and) seems to move if we get a bigger surprise."

"We are just going to be treading water, at least until tomorrow when the more important number comes out, and we could see a bit of a surprise...not as bad as people are thinking."

Monthly U.S. non-farm payrolls data are due out on Friday and will give an indication of the outlook for the economy and metals demand.

Before the ISM numbers, data showed new applications for jobless benefits in the United States fell last week, while activity in the services sector was at its strongest in nearly a year in August.

Investors also took comfort from Shanghai equities, which jumped 4.6 percent after a top securities regulator pledged late on Wednesday to keep the market stable.

The pledge means China, the world's biggest copper consumer, is better poised to continue driving copper prices. Record copper imports by China have been key in driving copper above $6,000 a tonne from around $3,000 at the start of the year.

Copper has also been driven by speculative buying and signs of economic recovery. Although there is a risk of a price correction in September, analysts are cautiously bullish in the longer term. LEAD SMELTER SHUT-DOWNS

Analysts said worries were growing about lead supplies from China, where smelters were shut down last week following lead poisoning incidents.

"The prevention of heavy metal pollution should be put in a more urgent and more important position," Environment Minister Zhou Shengxian told a national pollution prevention meeting, Communist Party mouthpiece the People's Daily said.

Aluminium traded at $1,845 a tonne against $1,846. Latest LME data showed aluminium stocks fell 3,000 tonnes, but remained near a record 4.6 million tonnes.

Alcoa, the largest U.S. aluminium maker, said Chinese aluminium consumption would rise 8 percent in the second half from a year ago and cut its forecast drop in global demand for all 2009 to 5.5 percent from earlier forecasts of 7 percent. Zinc traded at $1,884 from $1,828, while nickel traded at $17,999 from $18,100. Tin was at $14,225 from $13,950, having earlier hit $14,475, the highest in more than a week.

Metal Prices at 1454 GMT Metal Last Change Percent Move End 2008 Ytd Percent

move COMEX Cu 280.50 0.25 +0.09 139.50 101.08 LME Alum 1836.00 -10.00 -0.54 1535.00 19.61 LME Cu 6200.00 25.00 +0.40 3060.00 102.61 LME Lead 2237.00 126.00 +5.97 999.00 123.92 LME Nickel 17900.00 -200.00 -1.10 11700.00 52.99 LME Tin 14150.00 200.00 +1.43 10700.00 32.24 LME Zinc 1880.00 52.00 +2.84 1208.00 55.63 SHFE Alu 14900.00 120.00 +0.81 11540.00 29.12 SHFE Cu* 48820.00 1430.00 +3.02 23840.00 104.78 SHFE Zin 15110.00 265.00 +1.79 10120.00 49.31 ** 1st contract month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07