* Tin prices surge after shutdown in Malaysia
* Weaker dollar supports metals markets
LONDON, June 4 (Reuters) - Copper prices rebounded on Friday
as investors bought in at lower prices after heavy losses the
previous day, driven by concerns that strong U.S. economic data
could spur tighter monetary policy.
Three-month copper on the London Metal Exchange (LME)
had gained 1.9% to $9,972.50 a tonne by 1600 GMT, having
lost as much as 3.8% in the previous session.
It extended gains along with stock markets after U.S. jobs
data came in weaker than expected, easing fears that the Federal
Reserve would withdraw stimulus measures.
Copper hit a record peak of $10,747.50 last month, fuelled
by optimism over global economic recovery and new demand from an
expected green revolution including the shift to electric
"It's bouncing today because of bargain hunting. The overall
attitude is still bullish for industrial metals and commodities
in general," said Julius Baer analyst Carsten Menke in Zurich.
"The fundamentals for industrial metals are good, but
expectations have been excessive as to where prices should be
based on the fundamental backdrop," Menke added.
In China, prices fell to their lowest in nearly six weeks,
with the most-traded July copper contract on the Shanghai
Futures Exchange dropping as much as 3.6% to 70,470
yuan ($11,001) a tonne.
* Supporting the metals market was a weaker dollar index
, which gave up earlier gains after the U.S. jobs data,
making commodities priced in the U.S. currency cheaper for
buyers using other currencies.
* Russian metals producer Nornickel resumed ore
mining at the second of its two mines hit by flooding this year,
it said on Friday.
* LME tin jumped 2.7% to $30,805 a tonne after
Malaysia Smelting Corp, the world's third-largest tin producer,
said it would temporarily close due to a new COVID-19 lockdown,
according to the International Tin Association. https://bit.ly/3pnLZgJ
* LME aluminium advanced 2.2% to $2,457.50 a tonne,
zinc rose 0.8% to $3,007.50, lead dropped 1.3%
to $2,144 and nickel climbed 0.8% to $18,030.
($1 = 6.4057 yuan)
(Additional reporting by Mai Nguyen in Hanoi
Editing by David Goodman and David Holmes)