(Adds closing prices)
By Maytaal Angel
LONDON, April 11 Copper steadied on Tuesday after hitting a two-week low as the world's top two copper mines continue to recover from recent disruptions, while zinc fell to a new three-month trough.
London Metal Exchange copper ended down 0.3 percent at $5,765 a tonne, after hitting $5,710, a low since late March.
Copper has faltered after BHP Billiton restarted production in Chile last week and Freeport McMoRan said it was waiting for final details on a temporary export permit in Indonesia.
Concerns over supply disruptions had sent the metal to a 1-1/2 year high of $6,204 in mid-February.
"The (copper) market over-reacted to supply disruptions and is moving back towards levels that are more justified, though we still say prices should drop below $5,500 given the supply demand balance we have currently," said Julius Baer analyst Carsten Menke.
"There's no real demand growth indicated by (copper) imports from China," he added.
* COPPER SPREAD: The discount of LME cash copper to the three-month contract CMCU0-3 was at $32 a tonne, close to the biggest in four years, indicating adequate supply of refined metal in the market.
* COPPER SUPPLY: Union representatives and executives from miner Southern Copper in Peru failed to reach an accord to end an indefinite strike, the union said.
* ZINC: The market focus is on receding supply worries. LME zinc ended down 1.8 percent at $2,570, having hit its lowest since early January at $2,558.
* ZINC SUPPLY: Diversified miner Vedanta Resources said refined zinc production at its India unit rose nearly 40 percent in the fourth quarter.
"Zinc continues to see plenty of sellers lined up on every rally amid increasingly aggressive CTA selling and ongoing long liquidation," said broker Marex Spectron.
* CURRENCIES: The dollar fell broadly as geopolitical risk and declining U.S. Treasury yields pushed traders out of the greenback. A weaker dollar makes dollar-priced metals cheaper for non-U.S. investors.
* NICKEL: The two biggest nickel miners in the Philippines, Nickel Asia Corp and Global Ferronickel Holdings , said prices for the metal would be robust this year due to growing demand from China.
* ALUMINIUM: China's aluminium makers are expected to step up exports in coming months as a healthier global manufacturing climate and declining world stockpiles boost demand.
* PRICES: Nickel ended down 3.3 percent at $9,840, aluminium closed down 0.3 percent at $1,921, tin ended down 1.4 percent at $20,000, while lead ended down 0.4 percent at $2,248.
(Editing by David Evans)
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