MARKETS-METALS (UPDATE 4) * U.S. Feb durable goods orders, jobless claims fall * Energy costs, demand lift aluminium to highest since 2008 (Updates prices, comments after U.S. data) By Sue Thomas LONDON, March 24 (Reuters) - Copper prices reversed gains on Thursday, falling from almost three-week highs after new orders for U.S. manufactured goods unexpectedly fell last month, hinting at slowing activity in the world's largest economy. Three-month copper on the London Metal Exchange was untraded in official rings but last bid at $9,710 from $9,727 at the close on Wednesday. Earlier it rose to $9,784, its highest since early March. "We've seen quite a reaction across all the commodities markets to the numbers that have just come out," said Danske Bank analyst Christin Tuxen. "So even though the jobless claims data was better than we expected, the durable goods orders data was quite negative for base metals prices." The U.S. Commerce Department said durable goods orders fell 0.9 percent after an upwardly revised 3.6 percent rise in January. Economists polled by Reuters had expected a 1.1 percent increase after January's rise, which was initially reported at 2.7 percent. The euro extended gains against the dollar after the data, which helped limit further losses in base metals prices, as did data showing U.S. claims for unemployment benefits fell unexpectedly last week. A weaker dollar makes metals priced in the U.S. currency more affordable for holders of other currencies. Lead, which earlier hit its highest in almost three years, was $2,700 in rings from $2,716 at the close. "It's actually quite a big a reaction (in metals) given that we've had fairly quiet trading today," Tuxen said. "So there's definitely some profit taking." STILL SUPPORTED Aluminium also turned negative, after hitting $2,651.00, its loftiest since September 2008. The metal used in auto parts and packaging was $2,630 a tonne in rings, from $2,631 at the close on Wednesday. Still, electricity-intensive aluminium remained supported by brisk demand growth and soaring energy costs. "If you look at the demand picture for aluminium it's incredibly positive," said Barclays Capital analyst Gayle Berry. "And longer term as well the question marks over the role of nuclear in the energy mix is certainly helping the back end of the aluminium curve." The nuclear crisis in Japan is seen lifting power costs as governments rethink energy policies, and the conflict in the Middle East has propelled crude oil to 2-1/2 year peaks. Aluminium inventories remain close to record highs, climbing 14,425 tonnes to 4,608,875 tonnes, data showed on Thursday, although much of the material is tied up in financing deals. Tin was $31,575, from a last bid $30,925, while zinc was $2,415 from $2,424 at Wednesday. Metal Prices at 1339 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Percent Move End 2010 Ytd Percent move COMEX Cu 441.00 -1.00 -0.23 444.70 -0.83 LME Alum 2629.50 -1.50 -0.06 2470.00 6.46 LME Cu 9710.00 -17.00 -0.17 9600.00 1.15 LME Lead 2698.00 -18.00 -0.66 2550.00 5.80 LME Nickel 27135.00 310.00 +1.16 24750.00 9.64 LME Tin 31595.00 1445.00 +4.79 26900.00 17.45 LME Zinc 2414.50 -9.50 -0.39 2454.00 -1.61 SHFE Alu 16860.00 30.00 +0.18 16840.00 0.12 SHFE Cu* 72410.00 430.00 +0.60 71850.00 0.78 SHFE Zin 18580.00 -20.00 -0.11 19475.00 -4.60 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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