Jan 11 (Reuters) - Prices of non-ferrous metals largely rose on Thursday, as a softer dollar and China's move to support the yuan boosted the purchasing power of buyers in the world's top metals consumer.
Three-month copper on the London Metal Exchange (LME) was up 0.6% at $8,420.50 per metric ton, as of 0336 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange (SHFE) rose 0.2% to 68,090 yuan ($9,508.05) a ton.
LME aluminium increased 0.5% to $2,242.50 a ton, zinc jumped 0.9% to $2,517, lead was up 0.7% at $2,097, tin rose 0.7% to $24,610 and nickel advanced 0.6% to $16,525.
SHFE nickel jumped 3.3% to 129,130 yuan a ton, zinc rose 0.3% to 21,185 yuan, lead advanced 1.1% to 16,455 yuan, tin jumped 1.4% to 207,120 yuan, while aluminium eased 0.1% to 19,040 yuan.
The dollar index edged down and was on track for a second daily loss, but the fall was minimal as traders awaited U.S. inflation data to see whether bets on rate cuts were justified.
A softer dollar makes greenback-priced metals cheaper for holders of other currencies, while China also moved to defend the yuan on Thursday.
"A lower-than-expected inflation print would help prices to breach the near-term resistance level; however, we do not expect this move to be sustainable, as near-term momentum remains on a marginal downside for both aluminium and copper, respectively," said broker Sucden Financial in a note.
LME nickel inventory
Most recent nickel stocks were delivered into LME warehouses in South Korea, Taiwan, Singapore and the Netherlands.
For the top stories in metals and other news, click or ($1 = 7.1613 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)
