METALS-Shanghai copper tumbles amid broad selloff ahead of China holiday

Feb 13 (Reuters) - Shanghai copper declined on Friday amid a broader sell-off, as Chinese investors left on the last trading day before the long Lunar New Year break.

The most-active copper contract on the Shanghai Futures Exchange SCFcv1 tumbled 1.97% to 100,660 yuan ($14,576.79) a metric ton as of 0245 GMT, but was set to end the week gaining 0.65%.

The benchmark three-month copper on the London Metal Exchange CMCU3, however, rose 0.63% to $12,957 a ton, hovering below the $13,000 mark, and is poised to end the week 0.32% lower.

The London benchmark tumbled 2.21% on Thursday.

Physical demand is falling in China ahead of the nine-day break to start on February 15. Spot copper premium SMM-CU-PND, paid over the SHFE copper price, flipped back into a 60 yuan per ton discount on Thursday, indicating softening demand.

The Yangshan copper premium SMM-CUYP-CN, a gauge of Chinese appetite for imported materials, fell to $34 a ton. Though an improvement from $20 in late January, the premium remains historically low and does not indicate a material revival in Chinese demand.

Copper's loss also came as a broader sell-off, led by tech shares, undefined was caught up in worries about artificial intelligence disruptions.

Elsewhere, tin and nickel were leading losses.

The Shanghai most active tin SSNcv1 tumbled 3.89%, and the London benchmark tin CMSN3 lost 2.74%.

The Shanghai nickel SNIcv1 pulled back 3.68%, while the London nickel CMNI3 dropped 0.91%.

Nickel's losses were due to profit-booking sales after Indonesia's latest move to cut mining quotas for the world's biggest nickel mine.

"However, demand is weakening as China moves rapidly toward nickel‑free LFP batteries, preventing any meaningful tightening in the market. Without a rebound in nickel‑rich chemistries adoption, upside remains limited," said analysts at ING in a note.

Among other SHFE base metals, aluminium SAFcv1 declined 1.31%, zinc SZNcv1 dropped 0.79% and lead SPBcv1 dipped 0.42%.

Elsewhere on the LME, aluminium CMAL3 nudged 0.11% lower, zinc CMZN3 ticked 0.06% down and lead CMPB3 dipped 0.10%.

Friday, February 13

DATA/EVENTS (GMT)

1000 EU Total Trade Balance SA Dec

1000 EU GDP Flash Estimate QQ, YY Q4

1330 US Core CPI MM, SA Jan

1330 US Core CPI YY, NSA Jan

1330 US CPI MM, SA Jan

1330 US CPI YY, NSA Jan

1330 US CPI Wage Earner Jan

($1 = 6.9055 Chinese yuan renminbi)