NEW DELHI: Shanghai copper prices rose marginally higher on Monday as expectations of improved Chinese demand lent support, although trade was quiet as European markets were closed due to the Easter holiday.
A stronger dollar, however, kept gains in check after US jobs data on Friday underscored a tight labour market, firming up expectations that the Federal Reserve will again raise interest rates at its meeting next month.
The most-traded May copper contract on the Shanghai Futures Exchange was up 0.16% to 68,700 yuan ($9,991.27) a tonne as of 0235 GMT.
Friday’s data showed US nonfarm payrolls increased 236,000 in March, in line with forecasts of 239,000.
Shanghai copper set for weekly losses amid economic headwinds
Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported.
SHFE aluminium edged up 0.21% to 18,680 yuan, zinc was up 0.61% to 22,220 yuan, tin was down 2.66% to 191,180 yuan, and nickel eased 0.03% to 176,980 yuan a tonne, while lead added 0.07% to 15,305 yuan.
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