Copper prices fell on Friday on concerns about demand China, patchy global industrial activity and expectations that U.S. interest rates will remain higher for longer.

Three-month copper on the London Metal Exchange (LME) fell 0.3% to $8,513 a metric ton in official open-outcry trading after touching its lowest since Jan. 24 at $8,454.

The metal used in power and construction is down 0.4% over the week, with a tightening supply outlook overshadowed by the U.S. Federal Reserve pushing back on the idea of an interest rate cut as early as March.

"We remain positive on copper following the supply downgrades that were announced in the fourth quarter and have tightened 2024 balances," said Standard Chartered analyst Sudakshina Unnikrishnan.

"However, demand concerns remain, with ongoing worries over China's real estate sector and the trajectory of Fed policy."

Chinese shares registered their worst weekly drop in five years this week after cautious and piecemeal government stimulus measures to shore up the shaky economy.

The country is approaching the Feb. 9-16 Chinese New Year holiday, usually a period of tepid demand and muted trading.

The slowing activity can be seen in copper inventories in warehouses monitored by the Shanghai Futures Exchange , with stocks up 36% this week to their highest since July. Zinc inventories rose by 23%.

Also indicating weak demand, LME cash copper's discount to the three-month contract closed on Thursday at a record high of $109.

There was some price support from copper stocks in LME-registered warehouses extending declines to the lowest level since September.

On the technical front, copper is supported by the 50-day and 21-day moving averages at $8,459 and $8,440 a ton respectively.

LME aluminium shed 0.1% to $2,245.50 a ton in official activity, zinc fell 0.4% to $2,467, lead was down 0.6% at $2,138 while tin lost 0.1% to $25,775 and nickel advanced 0.8% to $16,365.

(Reporting by Polina Devitt in London Additional reportin by Mai Nguyen in Hanoi; editing by David Goodman)