May 12 (Reuters) - Shanghai copper logged its biggest daily gain in months on Tuesday as supply concerns and expectations of higher demand from China outweighed higher oil prices and Freeport pushing back against a reported delay in its Indonesia mine.

The most-active copper contract SCFcv1 on the Shanghai Futures Exchange gained 2.51% to 106,940 yuan ($15,742.44) a metric ton as of 0330 GMT after rising as much as 2.90%, the biggest rise since March 24.

The government of Peru, the world's third-largest copper-producing country, authorised its state-run oil firm Petroperu PETROBC1.LM to seek $2 billion in state-insured loans to ensure continuity of its operations amid high oil prices driven by the Iran war.

Traders said this raised concerns about the supply of mined copper from the country as an energy shortage bites.

Also supporting prices were expectations that China's refined copper imports will rise in the second quarter, driven by firm demand and potentially lower domestic output because of smelter maintenance.

Analysts and traders have said demand from power-grid investment and electric vehicles is helping pull more refined copper into China.

Meanwhile, Freeport-McMoRan pushed back against reports that full production at its Grasberg mine in Indonesia could be delayed until 2028, saying it still expected full output by the end of 2027. Freeport had already cut its second-half 2026 recovery forecast for Grasberg to 65% from 85%, leaving supply concerns in place despite the denial.

Copper also seemed to shake off pressure from rising energy costs due to the Iran war as the Brent futures LCOc1 rose above $105 a barrel.

The benchmark three-month copper CMCU3 on the London Metal Exchange, however, dipped 0.24% to $13,909.50 a ton, after rising 2.7% to close at $13,943 a ton on Monday, a record-high closing price.

Elsewhere on SHFE, aluminium SAFcv1 added 0.18%, zinc SZNcv1 climbed 1.18%, lead SPBcv1 dropped 0.99%, nickel SNIcv1 lost 0.71% and tin SSNcv1 surged 1.47%.

Among other metals on the LME, aluminium CMAL3 lost 0.77%, zinc CMZN3 dipped 0.22%, lead CMPB3 dropped 0.58%, nickel CMNi3 shed 1.37% and tin CMSN3 tumbled 0.98%.

Tuesday, May 12

DATA/EVENTS (GMT)

0600 Germany HCIP Final YY Apr

0900 Germany ZEW Economic Sentiment, Current Conditions May

1230 US CPI, Core CPI MM, SA Apr

1230 US CPI, Core CPI YY, NSA Apr

1230 US CPI Wage Earner Apr

($1 = 6.7931 Chinese yuan renminbi)