Dec 6 (Reuters) - Most base metal prices rose on Wednesday on a money supply boost in China and amid hopes of a rate cut in the United States, following poor jobs data in that country.
Three-month copper on the London Metal Exchange rose 0.7% to $8,391.50 per metric ton by 06370 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange eased 0.3% to 67,990 yuan ($9,498.33) a ton.
LME aluminium advanced 0.2% to $2,165 a ton, nickel climbed 3.1% to $16,650, zinc rose 0.9% to $2,444, lead increased 0.8% to $2,067 and tin jumped 2% to $24,470.
SHFE nickel climbed 1.7% to 129,910 yuan a ton, zinc edged up 0.6% at 20,650 yuan, tin increased 2.6% to 206,190 yuan, aluminium rose 0.1% to 18,480 yuan while lead fell 0.2% to 15,620 yuan.
U.S. job openings fell to a more than a 2-1/2-year low in October, the strongest sign yet that higher interest rates were dampening demand for workers and boosting financial markets expectations the Federal Reserve's monetary policy tightening cycle was over.
Higher rates usually lead to a stronger dollar, which makes greenback-priced metals more expensive to holders of other currencies. Rising interest rates also often hurt economic growth, which is linked to metals demand.
China's central bank extended its months-long trend of setting daily guidance fix at levels stronger than market projections, a move widely interpreted as an attempt to stable the yuan following Moody's downgrade of China's credit rating.
"That means more yuan in circulation. It's a small money supply boost," said a metals trader.
Copper and aluminium demand have been solid in recent months, but uncertainty around its future growth posed as a threat to any metals prices rally.
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($1 = 7.1581 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Nivedita Bhattacharjee)
