METALS-Copper slips from fresh peak after downbeat Chinese data

(Updates prices at 1700 GMT) By Eric Onstad LONDON, March 14 (Reuters) - Copper prices recoiled from a five-month peak on Friday, as disappointing loans data from top metals consumer China and concerns around U.S. tariffs dampened buying activity. Benchmark three-month copper CMCU3 on the London Metals Exchange was little changed at $9,786 a metric ton by 1700 GMT, pulling back from $9,850, its highest since October 9. Prices retreated after new bank lending in China fell more than expected in February from a record high in the previous month. "It doesn't really give confidence that China has got things under control in terms of stimulus and activity in the country, so that's going to be negative for the copper price," said Nitesh Shah, commodity strategist at WisdomTree. "Also, Dr. Copper will always be very sensitive to growth concerns elsewhere in the world. I think the tariffs are creating those concerns," he added. Copper has pulled back and forth between worries that demand will suffer if growth tapers off, and buying that has banked on the assumption that tariffs would force U.S. consumers to pay more for the metal. LME copper had risen for three consecutive sessions, bringing year-to-date gains to 12%. Most active U.S. Comex May copper futures HGc3 were down 0.7% at $4.89 a lb after hitting $4.96, their strongest since May last year. The premium of Comex copper over LME was $1,012 a ton. Tin prices remained elevated after Alphamin Resources AFM.V halted operations at its Bissie tin mine in the Democratic Republic of Congo. On Thursday, LME futures had rocketed to their highest since 2022. "Bisie tin mine is the world's third-largest tin mine, contributing to 6% of the world's tin ores in 2024," Wang Weiwei, an analyst at Yide Futures, said in a note. Prices of tin on the Shanghai Futures Exchange SSNcv1 jumped 8.6% on Friday after hitting the upper limit of 10% in Asia morning trade. LME tin CMSN3 was 1.7% lower at $35,305 a ton after hitting $37,100, its highest since June 2022. LME aluminium CMAL3 eased 0.7% to $2,683 a ton and lead CMPB3 slipped 0.2% to $2,067.50 while nickel CMNI3 added 0.1% to $16,515 and zinc CMZN3 rose 0.3% to $2,969. (Reporting by Eric Onstad Additional Reporting by Polina Devitt in London and Violet Li in Shanghai; Editing by Leroy Leo, Kirsten Donovan) ((mailto:eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: rm://eric.onstad.thomsonreuters.com@reuters.net/)) ((For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))