SYDNEY, April 24 (Reuters) - Shanghai copper futures opened higher on Monday but quickly went into negative territory as investors cut bets that Chinese demand was getting stronger and that global tensions were easing.
Copper's shift into the red pulled the rest of the ShFE metals complex lower.
"Commodities struck a note of caution as investors continued to grapple with geopolitical risks amid mixed fundamentals," ANZ Bank said in a note.
* North Korea said on Sunday it was ready to sink a U.S. aircraft carrier to demonstrate its military might, in the latest sign of rising tension as U.S. President Donald Trump prepared to call the leaders of China and Japan.
* Three-month copper on the London Metal Exchange managed a 0.07 percent rise to $5,662 a tonne after ending last week lower.
* The most-traded copper contract on the Shanghai Futures Exchange dropped 0.24 percent to 45,880 yuan ($6,664)a tonne.
* The global refined copper market had a 51,000 tonne surplus in January, up from a 44,000 tonne surplus in January last year, the International Copper Study Group (ICSG) said.
ShFE zinc, which led ShFE metals contract's higher on Friday, recoiled more than 1 percent to 21,530 yuan.
* Matt Chamberlain was named London Metal Exchange (LME) chief executive on Friday, with a mandate from its owner the Hong Kong bourse to reform the world's largest and oldest metals market.
* COLUMN: Is aluminium the new steel for China's policy-makers? The country's steel producers are already being subjected to a host of measures intended to weed out excess capacity.
ShFE aluminium dropped 0.17 percent to 14,355 yuan ($2,085) atone.
LME aluminium was up 0.06 percent to $1,944 a tonne.
* Copper miner Freeport-McMoRan Inc warned on Friday it would punish workers for absenteeism at its Indonesian unit, a day after one of its main unions announced plans to go on a one-month strike over employment conditions.
* The World Bank Group and the China-led Asian Infrastructure Investment Bank said on Sunday they agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical work, development financing and country-level coordination.
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* The euro vaulted to five-month peaks in choppy Asian trading on Monday after the market's favoured candidate won through the first round of the French election, reducing the risk of a Brexit-like shock and sparking a mass unwinding of safe-haven trades.
* The euro scaled five-month highs against the dollar in early Asian trading on Monday after the centrist candidate swept to victory in the first round of the French presidential election, reducing the risk of an anti-establishment shock in the final round.
DATA/EVENTS 0800 Germany Ifo business climate Apr 1230 U.S. National activity index Mar 1430 U.S. Dallas Fed manufacturing index Apr
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
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.8845 Chinese yuan renminbi)
Reporting by James Regan