METALS-Aluminium prices rangebound as traders assess trade war risks

SHANGHAI, Feb 13 (Reuters) - Aluminium prices were rangebound on Thursday as traders gauged the potential risks of a global trade war following the implementation of a 25% tariff on steel and aluminium imports by U.S. President Donald Trump.

Three-month aluminium CMAL3 on the London Metal Exchange (LME) was up 0.2% to $2,625.5 a metric ton, as of 0117 GMT.

Australia's trade minister Don Farrell said the country had increased aluminium supply to the U.S. with Washington's approval.

Australia, the world's sixth-largest aluminium producer, accounted for 1% of steel imports into the U.S. and 2% of its aluminium imports.

Copper prices also traded in a narrow range, with the LME benchmark copper CMCU3 edging down 0.1% to $9,450 a metric ton.

"Following Trump's announcement of 25% tariffs on aluminium and steel, many traders believe copper is also in his sights. Signs of tightness also boosted sentiment," ANZ Research said in a note.

While Trump did not impose tariffs on copper, he did threaten duties last week without providing further details.

Treatment charges - the fees paid by miners to smelters for converting raw materials into metal - have been declining, indicating a shortage of material.

The Fastmarkets copper TC/RC (treatment charge/refining charge) index has hit record lows in recent weeks and was at minus $12.50 a ton and minus 1.25 cents per lb on Wednesday, compared with a TC of about plus $20 a year ago.

Among other metals, zinc CMZN3 was flat at $2,863, tin CMSN3 was down 0.2% at $31,515, lead CMPB3 added 0.4% to $1,980 and nickel CMNI3 edged 0.1% higher to $15,430.

The aluminium contract on the Shanghai Futures Exchange (SHFE) SAFcv1 was relatively unchanged at 20,590 yuan ($2,817.50)a ton.

SHFE copper SCFcv1 rose 0.9% to 77,480 yuan, nickel SNIcv1 was flat at 124,440 yuan, zinc SZNcv1 climbed 0.9% to 23,870 yuan, lead SPBcv1 added 0.4% to 17,155 yuan and tin SSNcv1 was up 0.6% to 258,680 yuan.

($1 = 7.3079 Chinese yuan)

 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