BEIJING, May 4 (Reuters) - London base metal prices made
robust gains early on Friday as the dollar softened, making
metals cheaper for holders of other currencies, while positive
data from top metals consumer China helped spur a rebound from
losses in the previous session.
Markets are awaiting the outcome of two-day U.S.-China trade
talks in Beijing that end on Friday. A trade spat between the
two countries has roiled metals markets in recent months.
FUNDAMENTALS
* ALUMINIUM: Three-month aluminium on the London Metal
Exchange rose 1.5 percent to $2,303 a tonne by 0226 GMT,
having closed down 2.3 percent on Thursday. The most traded June
aluminium contract on the Shanghai Futures Exchange
rose 0.2 percent.
* COPPER: Three-month LME copper climbed 0.7 percent
to $6,876.50 a tonne. The most traded June copper contract on
the ShFE was up 0.3 percent at 51,130 yuan ($8,060.22)
a tonne.
* ZINC: Zinc rebounded from Thursday's 1.3 percent
drop to trade 0.6 percent higher in London but was down 1.8
percent in Shanghai. The zinc industry agreed a 15
percent drop in annual zinc processing fees to $147 a tonne,
miner and metals smelting company Nyrstar said on
Thursday.
* NICKEL: London nickel rose 1.4 percent, recovering
from a 1.5 percent drop on Thursday.
* CHINA: Growth in China's service sector picked up in April
as new business and employment grew at a faster rate, a private
survey showed on Friday, signalling a solid rise in a sector
that Beijing is counting on to maintain economic growth.
* INTERNATIONALISATION: China plans to open more of its
futures contracts to foreign investors, its securities regulator
said on Friday, as Beijing launched its "internationalised" iron
ore contract in a bid to boost its sway over pricing for one of
its top imports.
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MARKETS NEWS
* Asian shares were steady while the Japanese yen held onto
overnight gains in early trading on Friday as financial markets
turned their attention to the looming U.S. payrolls data for
fresh catalysts.
