Jan 4 (Reuters) - Prices of most non-ferrous metals declined on Thursday on a stronger dollar that was supported by a lack of clarity on the timeline and scale of U.S. interest rate cuts.
Three-month copper on the London Metal Exchange (LME) was down 0.4% at $8,486.50 per metric ton by 0356 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange (SHFE) eased 0.3% to 68,420 yuan ($9,562.41) per metric ton.
The dollar edged higher as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month.
A firm dollar makes greenback-priced metals more expensive to holders of other currencies.
Metals traded in thin volumes as some traders are still away for the New Year holiday.
LME aluminium fell 0.9% to $2,292.50 a ton, nickel declined 0.6% to $2,570, zinc shed 0.6% to $2,570, tin dropped 0.4% to $25,190 while lead rose 0.2% to $2,049.50.
SHFE aluminium dropped 1.3% to 19,210 yuan a ton, nickel shed 1.9% to 125,570 yuan, zinc fell 0.8% to 21,375 yuan, while lead rose 0.3% to 15,965 yuan and tin increased 0.3% to 210,890 yuan.
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DATA/EVENTS (GMT)
0745 France CPI (EU Norm) Prelim YY Dec
0850 France S&P Global Serv PMI Dec
0850 France HCOB Composite PMI Dec
0855 Germany HCOB Services PMI Dec
0855 Germany HCOB Composite Final PMI Dec
0900 EU HCOB Services Final PMI Dec
0900 EU S&P Global Comp Final PMI Dec
0900 Germany Overall Comprehensive Risk Q1
0900 France Overall Comprehensive Risk Q1
0900 UK Overall Comprehensive Risk Q1
0930 UK Composite Final PMI Dec
0930 UK Reserve Assets Total Dec
1300 Germany CPI, HICP Prelim YY Dec
1330 US Initial Jobless Clm Weekly
1445 US S&P Global Comp, Svcs Final PMIs Dec
($1 = 7.1551 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Sonia Cheema)
