* China returns after Qingming festival break
* Oil prices hit one-month high, supporting commodities
* LME/ShFE arbitrage: tmsnrt.rs/2oQ5nm2
(Updates with closing prices)
By Jan Harvey
LONDON, April 5 Copper rose 2 percent on
Wednesday, reflecting strength across base metals following
upbeat jobs data from the United States and the return of
Chinese buyers after a two-day break.
A one percent drop in copper prices since China, the world's
biggest consumer of industrial metals, closed for its latest
holiday tempted buyers.
"Prices got a boost with the publication of the latest ADP
(jobs) numbers," Commerzbank analyst Carsten Menke said. "It
seems to have been enough to push the optimism among market
Copper came under pressure last week from indications that a
number of production outages that had driven prices sharply
higher in February were coming to an end.
A jump in oil prices to their highest in a month also
boosted a broader appetite for commodities, analysts said.
* LME COPPER: Three-month copper on the London Metal
Exchange closed up 2 percent at $5,895 a tonne. A move
back through resistance at the 100-day moving average at $5,790
improved its technical picture, traders said.
* U.S. DATA: U.S. stocks rose after data from payrolls
processor ADP showed private employers added 263,000 jobs in
March, more than the number they hired in February and well
above economists' expectations.
* MARKETS: Wider markets are treading water ahead of the
release of minutes later on Wednesday of the Federal Reserve's
meeting, and a potentially tense meeting between U.S. President
Donald Trump and his Chinese counterpart Xi Jinping this week.
* CHINA-U.S. MEET: Although worried about the prospect of a
trade war, American businesses operating in China nonetheless
want Trump to wring concessions on market access from China's
leader Xi Jingping when the two meet.
* NICKEL, ZINC: LME nickel closed up 3.2 percent at
$10,295 a tonne, driven higher by gains in the steel sector
after a cyclone in Australia damaged transport routes for coking
coal. Zinc ended the day at $2,778 a tonne, up 1.5
* ZINC SPREAD: The discount of LME cash zinc to the
three-month contract CMZN0-3 moved to $27.25 a tonne, its
widest since October 2015, indicating adequate supply of refined
metal in the market.
* FREEPORT: Indonesia's Secretary General for the Energy
Ministry, Teguh Pamuji, said on Tuesday that Freeport McMoRan
would receive a temporary "special mining permit" to
allow its operations to continue and exports to resume while
discussions on longer-term issues continued.
* PERU: Peru will likely gradually increase its copper
production to 3.1 million tonnes in 2021 from an annual 2.35
million tonnes expected for both this year and next, the
country's energy and mines minister told the CRU World Copper
Conference in Chile.
* CESCO: Southern Copper should share more
of its profits with workers in Peru to avoid an indefinite
strike at its Toquepala and Cuajone mines starting on April 10,
a union leader said on Tuesday.
* COLLAHUASI: The Collahuasi copper mine in Chile, a joint
venture between Anglo American and Glencore,
expects 2017 output to beat last year's, and could ramp up
production that was frozen in 2015 if the price of copper keeps
rising, the mine's chief executive told Reuters.
* OTHER METALS: LME lead closed 0.1 percent higher
at $2,312 a tonne, while tin ended up 0.4 percent at
$20,105 a tonne. Aluminium finished the day up 1.2
percent at $1,961.
(Additional reporting by Melanie Burton; editing by David
Evans/Jason Neely/Alexander Smith)