April 24 (Reuters) - Copper slipped on Friday as

lingering uncertainty over Middle East peace talks, a firmer

dollar and expectations of a global surplus in 2026 weighed on

sentiment.

The benchmark three-month copper on the London Metal

Exchange dropped 0.71% to $13,260.50 a metric ton, on track to

end the week down 0.65%.

The most-active copper contract on the Shanghai

Futures Exchange slipped 0.47% to 102,650 yuan ($15,014.77) a

ton, set to end the week up 0.44%.

It eased from an over seven-week high earlier this week when

hopes for a peace deal between Washington and Tehran briefly

lifted risk appetite.

Though the Lebanon-Israel ceasefire has been extended by

three weeks, the outlook for U.S.-Iran talks remained fragile,

with tensions still simmering after the U.S. seizure of an

Iranian vessel and as Iran tightened its grip on the Strait of

Hormuz.

That kept energy prices elevated, with Brent futures

continuing to advance, keeping inflation concerns alive and

limiting investor appetite for growth-sensitive assets such as

industrial metals.

A stronger dollar added to the pressure, making

greenback-priced commodities more expensive for holders of other

currencies. The U.S. dollar index held just below a more

than one week high.

Meanwhile, the International Copper Study Group said on

Thursday the global refined copper market is expected to flip

into surplus in 2026, after it slashed the global demand growth

rate, though refined copper output growth is constrained by

limited concentrate availability.

Elsewhere, the London benchmark nickel added 0.28%

to $18,790 a ton, after advancing to its highest since January

29 at $18,850, and the Shanghai nickel rose 2.48% to

145,680 yuan after surging to its highest since January 30 at

136,340 yuan.

The surge came after French miner Eramet said it

was planning to halt production at its Weda Bay nickel mine in

Indonesia next month as its mining quotas are set to run out.

Elsewhere on the LME, aluminium dropped 0.57%, zinc

dipped 0.23%, lead ticked 0.05% lower, and tin

lost 0.85%.

Among other SHFE metals, aluminium dropped 0.52%,

zinc dipped 0.27%, lead nudged 0.06% lower and

tin declined 0.47%.

Friday, April 23

DATA/EVENTS (GMT)

0600 UK Retail Sales MM, YY Mar

0600 UK Retail Sales Ex-Fuel MM Mar

0800 Germany Ifo Business Climate, Curr Conditions New Apr

1400 US U Mich Sentiment Final Apr

($1 = 6.8366 Chinese yuan renminbi)