Copper falls from fresh peak after tepid Chinese data

Copper prices recoiled from a five-month peak on Friday, as disappointing loans data from top metals consumer China and concerns around U.S. tariffs dampened buying activity. Benchmark three-month copper on the LME was little changed at $9,786 a metric ton, pulling back from $9,850, its highest since October 9.

Prices retreated after new bank lending in China fell more than expected in February from a record high in the previous month.

"It doesn't really give confidence that China has got things under control in terms of stimulus and activity in the country, so that's going to be negative for the copper price," said Nitesh Shah, strategist at WisdomTree. Copper has pulled back and forth between worries that demand will suffer if growth tapers off, and buying that has banked on the assumption that tariffs would force US consumers to pay more for the metal.