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METALS-Copper dips as LME reopens, nickel at 14-month top

SINGAPORE, April 22 (Reuters) - Copper futures on the London Metal Exchange slipped on Tuesday as the bourse reopened after a long holiday weekend, still pressured by worries over Chinese demand amid a slowdown in the world's top user of the industrial metal.

Nickel jumped nearly 2 percent to its highest level in more than 14 months, supported by supply risks stemming from an Indonesian mineral ore export ban and continuing tensions between Ukraine and major nickel producer Russia.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange eased 0.2 percent to $6,638 a tonne by 0111 GMT, after gaining 1.7 percent in the two sessions prior to the four-day Easter weekend.

* The most-traded July copper contract on the Shanghai Futures Exchange was up 0.2 percent at 46,580 yuan a tonne.

* HSBC will release its China flash Purchasing Managers' Index for April on Wednesday. The HSBC PMI has been below 50 since January, suggesting small Chinese manufacturers have been struggling this year amid slower economic growth.

* China's economy grew 7.4 percent in the first quarter, the slowest pace in six quarters, according to government data released last week.

* London nickel hit a high of $18,260 a tonne, its loftiest since Feb. 18 last year.

* U.S. and European officials say they will hold Russia responsible and impose new economic sanctions if pro-Moscow separatists do not clear out of government buildings they have occupied across eastern Ukraine over the past two weeks.

* India's Supreme Court lifted a 19-month old ban on mining in Goa, its top iron ore-exporting state, a move that will put more pressure on global prices, although it capped annual output in the state at 20 million tonnes.

* China may help finance steel and coal producer Mechel's costly Elga coal project in Russia and supply equipment for it in exchange for coal, a senior executive at a Russian state bank said.

* Goldcorp Inc said it is walking away from its hostile bid to buy Osisko Mining Corp, clearing the way for Yamana Gold Inc and Agnico Eagle Mines Ltd to take control of Osisko's flagship Canadian Malartic mine.

* Japan's crude steel output rose in the fiscal year ended March 31 to the highest in six years on robust construction demand as Prime Minister Shinzo Abe pushed to revitalise the nation's economy with infrastructure investments and monetary easing.

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MARKETS NEWS

* The dollar held at two-week highs against a basket of major currencies after a subdued session on Monday, with many global financial centres shut for the Easter long-weekend holiday.

* Asian shares got a boost from overnight gains on Wall Street though investors continued to see tensions in Ukraine as a threat to risk appetite.

DATA AHEAD (GMT)

1300 U.S. Monthly home price index Feb

1400 Euro zone Consumer confidence April

1400 U.S. Existing home sales March

1400 U.S. Richmond Fed composite index April

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

Three month LME tin

(Reporting by Manolo Serapio Jr.; Editing by Richard Pullin)