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METALS-London copper declines on rising inventories

HANOI, April 15 (Reuters) - London copper prices fell on Thursday as an extended rise in inventories in the London Metal Exchange pressured prices.

Three-month copper on the LME fell 0.1% to $9,064 a tonne by 0217 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange rose 1.5% to 67,170 yuan ($10,279.13) a tonne, tracking overnight gains in London.

Copper stockpiles in LME-approved warehouses MCUSTX-TOTAL hit their highest since Nov. 5 at 172,025 tonnes.

However, the gains were capped by a weak dollar that held near a three-week low on dovish U.S. Federal Reserve comments and retreating U.S. bond yields, making greenback-priced metals cheaper to holders of other currencies.

FUNDAMENTALS

* LME lead rose 0.1% to $1,997.50 a tonne, nickel fell 1.3% to $16,170 a tonne. ShFE nickel dipped 0.2% to 121,440 yuan a tonne and ShFE zinc increased 0.8% to 21,590 yuan a tonne.

* ShFE aluminium climbed as much as 1.7% to 18,120 yuan a tonne, its highest since August 2011, while LME aluminium hit its highest since June 2018 at $2,333.50 a tonne, on worries about output cuts in China to curb carbon emissions.

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MARKETS NEWS

* Asian shares were on the backfoot following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase hit tech shares while the dollar index struggled near one-month lows.

DATA/EVENTS (GMT)

0600 Germany HICP Final YY March

0645 France CPI (EU Norm) Final MM, YY March

1000 EU Reserve Assets Total March

1230 US Initial Jobless Clm Weekly

1230 US Philly Fed Business Indx April

1230 US Retail Sales MM March

1315 US Industrial Production MM March

$1 = 6.5346 yuan Reporting by Mai Nguyen; editing by Uttaresh.V

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