On the Shanghai Futures Exchange, however, the most-traded
June copper contract fell 0.4% to 68,150 yuan
($9,875.24) a tonne.
The U.S. dollar index dropped 0.4% overnight and hit
a ten-day low of 101.19 in early Asian trade, making
greenback-priced metals cheaper for holders of other currencies.
Investors are awaiting a mix of U.S. economic data later
this week, which could provide more clues on the Fed's next
policy move.
Both the Dallas Fed's business activity index and
manufacturing output index for April in the U.S. fell short of
expectations, adding to the concerns about a slowdown in the
world's biggest economy.
Weak demand in top metals consumer China and rising concerns
that the U.S. Treasury Department could hit its debt limit in
the coming months were also seen keeping a lid on metals prices.
LME aluminium dropped 0.3% to $2,375 a tonne, nickel shed 1.1% to $24,305 a tonne, lead fell 0.2% to
$2,138.50 a tonne and tin lost 0.8% to $26,430 a tonne,
while zinc rose 0.4% to $2,681.50 a tonne.
On the Shanghai exchange, aluminium declined 0.4%
to 18,830 yuan a tonne, zinc dropped 1% to 21,500 yuan
a tonne, lead slipped 0.1% to 15,295 yuan a tonne and
tin shed 0.3% to 212,590 yuan a tonne, while nickel rose 0.2% to 183,200 yuan a tonne.
For the top stories in metals and other news, click or ($1 = 6.9011 yuan)
(Reporting by Enrico Dela Cruz in Manila; Editing by Rashmi Aich)
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