HANOI, Jan 11 (Reuters) - Industrial metals fell on Monday on demand worries as top metal consumer China saw its biggest daily increase in COVID-19 cases in more than five months.
The most-traded February lead contract on the Shanghai Futures Exchange closed down 3.8% to 14,470 yuan ($2,233.13) a tonne.
The February zinc contract declined 2.8% to 21,020 yuan a tonne, while the March nickel contract was down 4% to 127,490 yuan a tonne. Both metals are used in steelmaking.
China's Hebei province, a hub for making steel and some lead-acid batteries, accounted for 82 of the 85 new local infections reported on Jan. 10, the National Health Commission said in a statement.
The total number of new COVID-19 cases stood at 103, the highest since 127 cases were reported on July 30.
"COVID-19 cases are rising in China which has certainly unnerved the markets," said broker Kingdom Futures' director Malcolm Freeman in a note.
A stronger U.S. dollar also pressured prices on the London Metal Exchange, as greenback-priced metals became more expensive to holders of other currencies.
Souring U.S.-China tension over Taiwan also dampened risk sentiment in China, where equities prices eased.
FUNDAMENTALS
* Three-month copper on the LME fell 1.8% to $7,987.50 a tonne at 0737 GMT, and ShFE copper declined 2.5% to 58,580 yuan a tonne. LME lead decreased 0.7% to $1,987 a tonne and nickel dropped 2% to $17,310 a tonne.
* Zinc inventories in ShFE warehouses
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PRICES
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
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS
($1 = 6.4797 yuan) (Reporting by Mai Nguyen; Editing by Ramakrishnan M. and Shailesh Kuber)
