BEIJING, July 7 (Reuters) - Copper prices in London edged higher on Friday, although gains were limited as investors awaited more clues on the U.S. Federal Reserve's interest rate trajectory and demand outlook in top consumer China.
Three-month copper on the London Metal Exchange was up 0.5% at $8,300 per metric ton by 0454 GMT, after losses in the previous session amid selling across risk asset classes.
The contract slid 0.2% so far this week.
The dollar index held in a tight range on Friday as investors awaited a key U.S. jobs report and weighed the prospect of higher-for-longer Federal Reserve interest rates against the economic growth outlook.
Data on Thursday pointed to a more resilient U.S. economy and raised the likelihood of further interest rate hikes by the Fed, denting investor sentiment.
The most-traded August copper contract on the Shanghai Futures Exchange dipped 0.2% to 67,720 yuan ($9,349.98) per metric ton.
Higher completion rates in China's property sector and the new energy industry have been the key drivers for copper and aluminium demand, analysts at Guosen Futures said.
Domestic supply, however, of the two metals is likely to expand. Copper smelters would be incentivized to ramp up production amid multi-year high charges, and aluminium production in the southwestern Yunnan province is also rising.
Copper premiums in Chinese spot market
LME aluminium gained 0.3% to $2,134.50, tin was unmoved at $28,530, zinc added 0.1% to $2,365, lead moved up 0.3% to $2,056.50, and nickel nudged 0.1% up to $21,225.
SHFE Zinc rose 0.5% at 20,115 yuan, nickel gained 0.6% to 164,670 yuan, tin was up 1.3% at 233,870 yuan, while lead shed 0.2% to 15,505 yuan, and aluminium dipped 0.1% to 17,830 yuan a ton.
For the top stories in metals and other news, click or
($1 = 7.2428 Chinese yuan) (Reporting by Siyi Liu and Dominique Patton; Editing by Rashmi Aich and Sherry Jacob-Phillips)