Mumbai, 1 Apr (Commoditiescontrol): London Metal Exchange (LME) copper prices ticked higher, starting April and Monday's session on a positive note led by strong industrial data posted by China bolstered demand outlook from the world's top metal consumer.
Three-month copper on the LME added 0.3% to $8,872 per metric ton.
The most-traded May copper contract on the Shanghai Futures Exchange (SHFE) was up 0.7% to 72,850 yuan per ton, having notched 5.4% in March, its biggest monthly gain in 16 months.
China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday.
Though the pace of growth was modest, it was also the highest PMI reading since March of last year, when momentum from the lifting of tough COVID-19 restrictions began to stall.
Investors also eyed the Federal Reserve to cut interest rates in June after data showed easing U.S. prices.
The dollar index was broadly steady on Monday.
LME aluminium increased 1.6% to $2,335 a ton, nickel moved 0.2% higher to $16,645, zinc little moved at $2,437, lead rose 2.5% to $2,053, while tin eased 0.2% to $27,475.
SHFE aluminium gained 0.4% at 19,690 yuan a ton, while nickel lost 0.9% to 129,300 yuan, zinc steadied at 20,890 yuan, lead declined 0.7% to 16,610 yuan, and tin was down 0.4% to 225,190 yuan.
(By Commoditiescontrol Bureau: 09820130172)
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