BEIJING: Copper prices in Shanghai rose on Friday, helped by a weaker dollar ahead of the US non-farm payrolls report, but the metal was headed for a weekly drop as a raft of weak economic data this week stoked concerns about demand.
The most-traded May copper contract on the Shanghai Futures Exchange added 0.2% at 68,740 yuan ($9,995.35) a tonne as of 0229 GMT.
It has lost 1% so far this week. Trading on the London Metal Exchange (LME) is closed because of the Good Friday holiday.
Three-month LME copper declined 1.5% this week. Copper prices, often seen as an economic bellwether, touched their lowest in more than two weeks on Wednesday after weak US economic data fuelled fears of a recession.
Meanwhile, tight inventories and improved demand in top consumer China lent some support to the market.
Copper steadies on optimism over China and technical buying
The dollar index dipped, as investors pondered how pivotal US jobs data coming out on a stock trading holiday might impact Federal Reserve policy and unleash a potentially volatile market reaction.
SHFE aluminium gained 0.6% to 18,705 yuan a tonne, zinc was little changed at 22,105 yuan, nickel rose 2.2% to 177,310 yuan, lead was up 0.6% at 15,315 yuan and tin slipped 1% to 195,670 yuan.
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