BEIJING, March 11 (Reuters) -
London copper prices climbed on Monday, buoyed by lower inventories and signs of raw material supply tightness globally as well as a weaker U.S. dollar.
Three-month copper on the London Metal Exchange added 0.2% to $8,596 per metric ton by 0655 GMT, having hit a five-week high on Friday.
The most-traded May copper contract on the Shanghai Futures Exchange slid 0.6% to 69,500 yuan ($9,673.06) per ton.
Supporting copper prices were mine-side disruptions that started last December, dampening Chinese smelters' profit margins and threatening to curb output.
LME copper stocks declined on Friday to the lowest levels
since last August.
Production by copper giant Codelco in Chile, the world's major producer of the metal, in January sank nearly 16% year-on-year, while output from other producers in the nation climbed.
The dollar index hovered close to a nearly two-month low reached Friday, when monthly payrolls figures signalled a cooling U.S. labour market, keeping the Fed on track to ease policy.
Also weighing on sentiment was the demand outlook of the metal used in the power, construction and transportation sectors.
Consumption still remained weak in China, the world's top consumer, according to China Futures analysts.
"Copper wire producers operate higher than expected, but the operation rate among copper tube and foil producers fall far behind last year level," they said in a note.
LME aluminium nudged 0.1% to $2,242.50, zinc was unmoved at $2,527, nickel slid 0.1% to 17,990, lead added 0.2% to $2,109.50, while tin lost 0.6% at $27,455.
SHFE aluminium little moved at 19,190 yuan, zinc moved 0.3% lower to 21,260 yuan, tin fell 1.1% to 220,010 yuan, nickel nudged down 0.1% to 137,400 yuan, while lead ticked 0.8% higher to 16,260 yuan.
For the top stories in metals and other news, click or ($1 = 7.1849 Chinese yuan renminbi) (Reporting by Siyi Liu and Mei Mei Chu; Editing by Sherry Jacob-Phillips and Sohini Goswami)
