METALS -Nickel, tin up on Indonesia ban, copper down on Fed fears
* Tin prices climb to 5-week high on Indonesian export ban
* ShFE plans to launch nickel, tin contracts next year
By Harpreet Bhal and Eric Onstad
LONDON, Dec 5 (Reuters) - Nickel and tin rose on Thursday after Indonesia reiterated it would impose an export ban on ore, while copper dipped on worries the Federal Reserve could curtail monetary stimulus following strong U.S. economic data.
Three-month tin on the London Metal Exchange closed 1.1 percent higher at $22,975 a tonne after touching a high of $23,198, the strongest since Oct. 30.
LME nickel climbed 0.7 percent to $13,750 a tonne, after hitting a peak of $13,918, the highest in 3-1/2 weeks.
The gains followed news that Indonesian lawmakers had rejected a government bid to water down a planned ban on shipments of unprocessed metals, dashing Jakarta's attempts to keep much-needed export revenue flowing in.
"It's a short-term reaction to the Indonesian news," said analyst Andrey Kryuchenkov at VTB Capital in London, adding that he did not expect nickel's gains to last.
"Nickel is plentiful, so I don't think it will have a very long-term impact, but for the time being the market is trading on sentiment."
Commerzbank analysts were also sceptical that a strict ban would be imposed: "There are likely to be exemptions to the regulations, however, given that only 28 smelting plants are under construction so far, meaning that the country would be denying itself an important source of revenue."
In industry news, the Shanghai Futures Exchange aims to launch nickel and tin futures contracts to broaden the range of non-ferrous metals covered, an exchange official said.
Copper was last bid at $7,068, down 0.4 percent, after failing to trade in closing open outcry activity. It reached a nine-day high in the previous session.
The metal used in power and construction is down more than 10 percent in the year to date. It broke below $7,000 a tonne in mid-November after holding in a $7,000-$7,400 range since August.
Third-quarter U.S. growth was revised to 3.6 percent from 2.8 percent, while weekly jobless claims also fell.
The U.S. data boosted speculation that Friday's non-farm payrolls figures could also beat expectations and accelerate the Fed's stimulus withdrawal plans.
The stimulus programme has released more money into the economy and has been used to buy assets including commodities.
"I will say that it could an easy decision for the Fed if we see the final number (for non-farm payrolls) above 200,000 for the second month in a row," said Naeem Aslam, chief market analyst at Ava Trade.
"On the flip side, if the number is around 125,000, then we may not see any announcement by the Fed on their tapering decision."
Among other metals, aluminium closed down 0.8 percent at $1,758 a tonne, zinc rose 0.1 percent to end at $1,897 and lead finished unchanged at $2,085.
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Three month LME tin
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