NEW DELHI, April 10 (Reuters) - 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 U.S.
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 U.S. nonfarm payrolls increased 236,000
in March, in line with forecasts of 239,000. 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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The 2023 Spring Meetings of the World Bank and
the International Monetary Fund take place in Washington D.C.
(to Apr. 16)
($1 = 6.8777 yuan)
($1 = 6.8760 Chinese yuan renminbi)
(Reporting by Neha Arora; Editing by Rashmi Aich)
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