METALS-Copper slides from five-month high; China stimulus plan limits losses

SHANGHAI, March 18 (Reuters) - Copper prices on the London Metals Exchange (LME) slipped from a five-month high on Tuesday, though China's stimulus plan and a weak U.S. dollar limited the losses.

Benchmark three-month copper CMCU3 on the LME slid from a five-month high and was down 0.3% at $9,831 a metric ton, as of 0711 GMT.

The U.S. dollar =USD wallowed near a five-month trough, as investors grappled with the potential economic impact of growing global trade tensions.

A softer dollar makes greenback-priced commodities more affordable for buyers using other currencies.

"China vowed to revive consumption in the world's largest copper consuming market. The government unveiled a special action plan, containing 30 measures aimed at boosting spending by increasing people's incomes," ANZ Research said in a note.

China's State Council unveiled on Sunday a "special action plan" to boost domestic consumption, featuring measures including increasing residents' income and establishing a childcare subsidy scheme.

Meanwhile, the draft EU plan reveals the European Commission's consideration of potential import restrictions on aluminium, prompted by apprehensions that the metals tariffs imposed by the U.S.' Donald Trump administration could trigger a surge of aluminium redirected towards Europe.

LME aluminium CMAL3 was down 0.5% at $2,672.5 a ton, lead CMPB3 slid 0.1% to $2,080, zinc lost 1.0% to $2,927.5, tin CMSN3 fell 0.8% to $34,900 and nickel CMNI3 dropped 1.4% to $16,205.

SHFE copper SCFcv1 climbed 0.2% to 80,260 yuan ($11,098.67)a ton, SHFE aluminium SAFcv1 was down 0.9% at 20,715 yuan a ton, zinc SZNcv1 slid 1.6% to 23,770 yuan, lead SPBcv1 lost 0.6% to 17,540 yuan, tin SSNcv1 lost 1.2% to 280,030 yuan and nickel SNIcv1 lost 2.9% to 129,490 yuan.

($1 = 7.2328 Chinese yuan renminbi)

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