METALS-Copper set for weekly gain on optimism around demand, growth

Feb 27 (Reuters) - Copper was poised to register a weekly gain on Friday, the first week of trading week after China's nine-day Lunar New Year break, supported by demand and growth optimism.

The most-active copper contract on the Shanghai Futures Exchange nudged 0.12% upward to 102,820 yuan ($14,992.27) a metric ton as of 0245 GMT, and is poised to end the week higher.

The benchmark three-month copper on the London Metal Exchange also ticked 0.12% up to $13,320.50 a ton, set to end the week up by 2.77%.

The red metal has had an eventful week. While optimism towards demand and growth dominated the mood - following the U.S. Supreme Court ruling against President Donald Trump's reciprocal tariffs and the Chinese market's reopening - this was later tempered by rising stocks globally.

Demand is projected to pick up in the Chinese market, as the Yangshan premium , a gauge of China's appetite for imported copper, jumped above $50 a ton after the Lunar New Year break, compared with $33 before the holiday.

The ruling against Trump's global tariffs also reduced immediate risks to global trade flows and industrial demand.

Copper's rising stock level globally remained a pressure point. Stocks in LME's warehouses rose to 253,600 tons, up nearly 80% from January 12 when the stock level began to pick up.

Copper is also facing technical resistance at $13,500 level, which capped rallies repeatedly in February, analysts at Sucden Financial said.

Elsewhere among base metals, tin made a strong return after the Lunar New Year break on supply side concerns provoked by Indonesia's plan to ban the export of several raw materials, including tin.

The Shanghai most-active tin surged 3.56% to 432,480 yuan a ton, while set to post a 13.51% weekly gain.

The benchmark three-month tin, while adding 1.62% to $55,315 a ton, is poised to soar 18.81% this week.

Among other SHFE metals, aluminium dropped 0.69%, zinc nudged 0.06% lower, nickel tumbled 0.83%, and lead added 0.21%.

Elsewhere on the LME, aluminium, zinc and lead all posted a 0.30% drop, while nickel added 0.57%.

Friday, Feb 27 DATA/EVENTS (GMT) 0745 France GDP QQ Final Q4 0745 France CPI (EU Norm) Prelim MM, YY Feb 0745 France CPI Prelim YY, MM NSA Feb 0745 France Producer Prices YY Jan 0855 Germany Unemployment Chg, Rate SA Feb 1100 France Unemp Class-A SA Jan 1300 Germany CPI Prelim YY Feb 1300 Germany HICP Prelim YY Feb 1330 US PPI Machine Manuf'ing Jan ($1 = 6.8582 Chinese yuan renminbi) (Reporting by Lewis Jackson and Dylan Duan; Editing by Janane Venkatraman)