SHANGHAI, Jan 17 (Reuters) - Most base metals traded within a tight range on Friday, as support from a softer dollar and expectations of further U.S. interest rate cuts was partially offset by uncertainty over potential tariffs from U.S. President-elect Donald Trump.

Three-month copper CMCU3 on the London Metal Exchange $(LME.UK)$ held its ground at $9,241 a metric ton by 0128 GMT.

"Copper also found some support after the State Grid Corp of China pledged record spending this year. The country's largest network operator is likely to spend around 650 billion yuan ($88.71 billion) to help connect new wind and solar farms to the nations grid," ANZ Research said in a note.

China's State Grid will invest a record more than 650 billion yuan ($88.7 billion) in the country's power grid this year, state-run CCTV said on Wednesday, up from 600 billion seen in 2024.

U.S. economic data on Thursday indicated consumer spending remains strong, while the labor market is also on solid footing, giving the Federal Reserve room to maintain a slow pace in cutting interest rates this year.

Concerns also lingered over potential tariffs from the Trump administration, scheduled to take office on Monday, that would further stoke inflation.

The dollar index paused its rally following the release of core consumer price index data. It was last at 108.95 - down from the 26-month high of 110.17 touched on Monday.

A weaker dollar makes greenback-priced commodities cheaper for holders of other currencies.

Excluding volatile food and energy components, core CPI increased 3.2% on an annual basis, compared with an expected 3.3% rise.

LME aluminium CMAL3 remained flat at $2,637, tin CMSN3 lost 0.2% to $29,530, nickel CMNI3 was unchanged at $15,965, lead CMPB3 was flat at $1,971 and zinc CMZN3 gained 0.2% to $2,879.

The most-active copper contract on the SHFE SCFcv1 was up 0.6% to 76,350 yuan ($10,366.79) a ton.

SHFE aluminium SAFcv1 added 0.6% to 20,425 yuan a ton, nickel SNIcv1 was up 0.7% to 128,420 yuan, zinc SZNcv1 rose 0.3% to 23,815 yuan, lead SPBcv1 gained 0.7% to 16,685 yuan and tin SSNcv1 added 0.4% to 247,690 yuan.

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($1 = 7.3275 Chinese yuan)

(Reporting by Violet Li and Mei Mei Chu; Editing by Sherry Jacob-Phillips)

((Violet.Li@thomsonreuters.com;))

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