METALS-Copper at three-month low on oil surge, strong dollar

(Updates prices by Asian market close)

March 19 (Reuters) - Copper slid to its lowest point in three months on Thursday in a cross-complex selloff of base metals, as oil prices spiked following Iranian attacks in the Middle East, stoking inflation fears and stronger dollar amid weakening rate-cut expectation.

The most-active copper contract on the Shanghai Futures Exchange lost 4.50% to close at 94,430 yuan ($13,686.30) a metric ton, after declining as much as 5.09% to 93,850 yuan, the lowest since December 19and the biggest percentage loss since February 2.

And the benchmark three-month copper on the London Metal Exchange slid1.84% to $12,168 a ton, after dropping as much as 2.92% to $12,034, the lowest since December 24.

"Copper came under more pronounced pressure, moving in strong negative correlation with oil and the dollar," analysts at Sucden Financial said, noting the broader base metal complex is vulnerable as inflation fears due to rising energy prices and dollar strength persists.

Brent futures surged above $110 a barrel, following Iran's attack on several oil plants across Saudi Arabia, the United Arab Emirates and Qatar in retaliation for strikes on its own energy infrastructure in South Pars and Asaluyeh.

Rising oil prices fuel inflation concerns, bolstering expectations of tighter monetary policy and weighing on growth-linked metals such as copper.

Fed Chair Jerome Powell on Wednesday addressed rising energy prices, saying it would "push up overall inflation" but noted that "the scope and duration of the potential effects on the economy" was too soon to know in his speech after the U.S. central bank's widely-expected decision to keep interest rate unchanged.

The U.S. dollar strengthened on Wednesday, Pressuring commodities denominated by the greenback by making them less affordable for investors using other currencies.

Copper also came under pressure from mounting stock levels. Copper stocks in LME warehouses continued to rise after hitting the highest since 2019, totalling 334,100 tons as of Tuesday.

Elsewhere on SHFE, aluminium declined 2.64%, zinc lost 3.16%, lead dropped 1.59%, nickel tumbled 2.94% and tin slid 6.61%.

Among other LME metals, aluminium dropped 1.43%, zinc lost 1.13%, lead slid 0.94%, nickel tumbled 2.78% and tin plunged 3.69%.

($1 = 6.8996 Chinese yuan) (Reporting by Lewis Jackson and Dylan Duan; Editing by Janane Venkatraman)