HANOI, April 9 (Reuters). Copper prices rose weekly on Friday as the dollar approached its worst week of the year, making USD-denominated metals cheaper for holders of other currencies.
The three-month copper price on the London Metal Exchange rose 0.3% to $ 9,031 per tonne by 01.03 GMT, up 2.7% over the week.
May copper contracts, the most traded on the Shanghai Futures Exchange, rose 0.8% to 67,160 yuan ($ 10,252.65) a tonne, also implying a weekly gain.
The dollar was weighed down by unexpectedly strong economic data from Europe, gloomy US employment data and a resolutely adjusted Federal Reserve, which prompted investors to abandon some of the dollar rates.
* Chinese battery materials manufacturer CNGR Advanced Material Co will set up a joint venture in Indonesia to manufacture nickel matte used for the production of battery chemicals for electric vehicles with a partner in Singapore.
* China’s Jiangxi Copper Co is not building or investing in a previously planned project to produce refined copper from scrap in eastern Malaysia, the chairman said.
* Aluminum on the London Metal Exchange fell 0.1% to $ 2,280 per tonne, while zinc rose 0.2% to $ 2,860.50 per tonne. In Shanghai, nickel rose 1.1% to 127,070 yuan per tonne, zinc rose 1.2% to 22,145 yuan per tonne, while aluminum rose 0.2% to 17,530 yuan per tonne.
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* Asian stocks are set for a volatile trading session after tech stocks lifted the S&P 500 to a new record, despite investors weighing in on the unexpected surge in Americans filing new jobless claims.
DATA / EVENTS (GMT)
0130 China PPI, CPI YY March
0600 Industrial production in Germany, million Feb
0730 United Kingdom Halifax Housing Prices MM March
1 dollar = 6.5505 yuan Mai Nguyen report; Edited by Shailesh Kubera