METALS-Copper pulls back from record on easing US tariff concerns, stronger dollar

By Amy Lv and Lewis Jackson

BEIJING, Jan 15 (Reuters) - Copper prices pulled back on Thursday from record highs, weighed down by easing concerns over a potential imposition of U.S. tariffs on critical minerals and a stronger dollar.

The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 closed daytime trade 1.31% lower at 102,810 yuan ($14,748.67) per metric ton. The contract had hit a record 105,650 yuan the day before.

Benchmark three-month copper CMCU3 on the London Metal Exchange slipped 0.68% to $13,098.5 per ton by 0713 GMT, after hitting an all-time high of $13,407 on Wednesday.

U.S. President Donald Trump said on Wednesday he had opted for now against imposing tariffs on rare earths, lithium and other critical minerals. Copper has been added to the U.S. critical minerals list.

Persistent flow of copper to the United States amid higher local premium ahead of potential tariffs has tightened supply elsewhere, underpinning prices.

Moreover, a stronger dollar =USD, which makes commodities priced in the greenback more expensive for buyers using other currencies, also weighed on appetite for the metal, which is used in the power grid, construction and manufacturing sectors.

Shanghai tin SSNcv1 rallied for a fifth straight session to hit a record high at 443,380 yuan due to persistent funds buying despite signs of higher supply.

The Indonesia Tin Exporters Association estimated that the country's tin mining production quota would be set at around 60,000 tons for 2026, compared with 53,000 tons in 2025.

Similarly, Shanghai nickel SNIcv1 hit its highest in more than seven months at 151,750 yuan on concerns over supply from Indonesia.

Major producer Indonesia may approve a nickel ore production quota of around 260 tons this year, lower than the estimated demand of around 340 million to 350 million tons, local media reported.

For other SHFE metals, lead SPBcv1 added 0.78%, zinc SZNcv1 climbed 2.03%, while aluminium SAFcv1 shed 1.5%.

Among other LME metals, aluminium CMAL3 fell 0.78%, nickel CMNI3 slid 1.55%, while lead CMPB3 added 0.19%, tin CMSN3 advanced 1% and zinc CMZN3 rose 0.75%.

($1 = 6.9708 Chinese yuan)