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METALS-Copper on track for weekly rise as dollar weakens

HANOI, April 9 (Reuters) - Copper prices were on track for a weekly rise on Friday, as the dollar was headed for its worst week of the year, making greenback-priced metals cheaper for holders of other currencies.

Three-month copper on the London Metal Exchange rose 0.3% to $9,031 a tonne by 0113 GMT, up 2.7% on a weekly basis.

The most-traded May copper contract on the Shanghai Futures Exchange advanced 0.8% to 67,160 yuan ($10,252.65) a tonne, also set for a weekly rise.

The dollar was pressured by unexpectedly strong economic data in Europe, downbeat U.S. jobs figures and a determinedly accommodative Federal Reserve that prompted investors to unwind some bets on the greenback.

FUNDAMENTALS

* Chinese battery material maker CNGR Advanced Material Co would set up a joint venture in Indonesia to produce nickel matte, used to make chemicals for electric car batteries, with a Singapore-based partner.

* China’s Jiangxi Copper Co is not building or investing in a previously planned project to make refined copper from scrap in eastern Malaysia, its chairman said.

* LME aluminium fell 0.1% to $2,280 a tonne, while zinc rose 0.2% to $2,860.50 a tonne. In Shanghai, nickel advanced 1.1% to 127,070 yuan a tonne, zinc climbed 1.2% to 22,145 yuan a tonne and aluminium increased 0.2% to 17,530 yuan a tonne.

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MARKETS NEWS

* Asian equities are set for a choppy trading session after technology stocks lifted the S&P 500 to a new record even as investors weighed an unexpected rise in the number of Americans filing new claims for unemployment benefits.

DATA/EVENTS (GMT)

0130 China PPI, CPI YY March

0600 Germany Industrial Output MM Feb

0730 UK Halifax House Prices MM March

$1 = 6.5505 yuan Reporting by Mai Nguyen; Editing by Shailesh Kuber

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