BEIJING, April 2 (Reuters) - Copper prices ticked higher on Tuesday, lifted by concerns of tighter raw material supplies and a production cut by Chinese smelters, while better demand outlook also lent some support.
Three-month copper on the London Metal Exchange was up 0.9% to $8,947.50 per metric ton by 0533 GMT, resuming trading after a long weekend and the Easter holiday.
The most-traded May copper contract on the Shanghai Futures Exchange added 0.3% to 73,040 yuan ($10,095.93) per ton, not far from an all-time high of 73,530 yuan touched on March 22.
Shanghai copper recorded its best daily gain in two weeks on Monday after an official survey showed China's manufacturing activity expanded for the first time in six months in March.
Although trading was subdued because of the holiday, sentiment improved with fears of further supply tightness of copper concentrate, ANZ analysts noted.
Shortages of copper concentrate led to smelters planning to control output, and starting maintenance earlier than usual.
Refined copper output will decline from March to April because of higher-than-usual maintenance amid raw material supply tightness, Northeast Securities analysts said.
That, coupled with a seasonal pickup in copper demand, will support prices, they added.
Elsewhere, LME aluminium nudged 0.1% lower to $2,335.50 per ton, nickel rose 0.5% to $16,840, zinc was up 0.5% to $2,450.50 per ton, tin added 1.3% to $27,795, while lead lost 0.5% to $2,045.
Stronger-than-expected U.S. manufacturing data on Monday pushed Treasury yields higher and led to investor worries over the timing of interest rate cuts by the Federal Reserve.
SHFE aluminium dipped 0.1% to 19,705 yuan a ton, zinc was 0.5% higher at 21,010 yuan, nickel rose 1.4% to 131,910 yuan, and tin climbed 0.6% to 227,240 yuan, while lead declined 1.1% to 16,415 yuan.
For the top stories in metals and other news, click or ($1 = 7.2346 Chinese yuan renminbi) (Reporting by Siyi Liu and Andrew Hayley; Editing by Rashmi Aich and Shounak Dasgupta)
