METALS-Shanghai metals slip as Israel-Iran tensions, mixed China data weigh

By Hongmei Li

SINGAPORE, June 16 (Reuters) - Most metals on the Shanghai Futures Exchange traded lower on Monday, as mixed economic data from China reinforced market caution and escalating tensions between Israel and Iran further weighed on investor sentiment.

The SHFE most-traded copper contract SCFcv1 was flat at 78,390 yuan ($10,910.69) per metric ton, as of 0224 GMT, and zinc SZNcv1 fell 0.8% to 21,780 yuan.

Nickel SNIcv1 was down 0.6% to 119,370 yuan, lead SPBcv1 eased 0.3% to 16,905 yuan, and aluminum down 0.2% at 20,375 yuan, while tin SSNcv1 edged 0.2% higher to 264,820 yuan.

"Global geopolitics have new uncertainty with the conflict, and this has raised concern over metals consumption," said a Beijing-based metals analyst with a futures company.

China's industrial output for May missed expectations, even as retail sales exceeded forecasts. However, ongoing weakness in the property sector persisted, with new home prices declining during the month.

The dollar firmed 0.25%, extending its gains with a further 0.2% rise in early Asian trading on Monday.

A firmer dollar makes greenback-priced commodities more expensive for buyers using other currencies.

Three-month copper on the London Metal Exchange CMCU3 inched up 0.1% to $9,655.5 per metric ton by 0224 GMT, while aluminium CMAL3 fell the most by 0.6% to $2,488, lead CMPB3 slipped 0.1% to $1,989, zinc CMZN3 fell 0.1% to $2,620 and nickel CMNI3 down 0.1% to $15,110.