March 6 (Reuters) - Prices of most base metals fell on Monday after China set a lower-than-expected economic growth target, dampening some hopes of a robust demand recovery for the sector.
Three-month copper on the London Metal Exchange was down 0.8% at $8,916.50 a tonne by 0227 GMT, and the most-traded April copper contract on the Shanghai Futures Exchange edged down 0.1% at 69,330 yuan ($10,029.51) a tonne.
Metals prices have been suppressed by the prospects of higher U.S. interest rates and a stronger dollar, which makes greenback-priced metals more expensive for holders of other currencies.
Expectations of a strong Chinese economic rebound have been supporting metals prices, but a modest growth target of around 5% for from the world's biggest consumer of the metal could mean less-than-expected actual consumption for the commodity.
This year's growth target of around 5% was at the low-end of expectations, as policy sources had recently told Reuters a range as high as 6% could be set. It is also below last year's target of around 5.5%.
LME aluminium fell 0.8% to $2,387 a tonne, zinc lost 1.4% to $3,035 a tonne, tin decreased 1.8% to $24,300 a tonne, while lead edged up 0.1% to $2,122 a tonne.
SHFE aluminium shed 0.5% to 18,570 yuan a tonne, zinc declined 0.3% to 23,210 yuan a tonne, tin lost 1.5% to 196,920 yuan a tonne while nickel rose 0.7% to 187,890 yuan a tonne.
Meanwhile in Peru, Andean communities will resume a blockade of a crucial highway used by major copper producers next week, two local leaders said on Saturday, following a truce that had allowed mining companies to restart production.
Copper supply disruption in Peru, the world's second-biggest producer of mined copper, has been supportive for price, albeit at a modest degree.
For the top stories in metals and other news, click or
DATA/EVENTS (GMT)
0930 UK All-Sector PMI Feb
1500 US Factory Orders MM Jan
($1 = 6.9126 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Sherry Jacob-Phillips)
