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LONDON - Copper prices rose in London on Thursday, halting a three-session run of declines, helped by strong Chinese export data and a weaker dollar, though other factors capped gains.
Three-month copper on the London Metal Exchange (LME) edged up by 0.3% to $8,311 a metric ton by 1118 GMT.
Copper, used in power and construction, is down 0.7% this year owing to a patchy post-pandemic recovery of top metals consumer China, concern over economic growth elsewhere and high interest rates.
China's November exports grew for the first time in six months, data showed on Thursday.
"That is giving the market confidence that the stimulus strategy in China is starting to work," said WisdomTree's Nitesh Shah.
"More targeted support for the real estate sector may continue to help metal demand in China. However, with German industrial production data coming in worse than expected, the gains in metal prices could be transitory - at least until the European Central Bank is convinced the weakness in data justifies a rate cut."
A weakening of the U.S. currency on Thursday provided some support for dollar-priced copper, making it more attractive for buyers using other currencies.
The focus now turns to U.S. payrolls data on Friday, which could provide signs of the Federal Reserve's next move on interest rates.
On the technical front, copper broke through the 100-day moving average at $8,284 and was facing resistance from the 21-day moving average of $8,339.
Copper was also supported by daily LME data showing the latest net cancelled warrants -- metal earmarked for delivery -- in LME-registered warehouses at 6,725 metric tons. <0#MCUSTX-LOC-GRD>
Meanwhile, LME aluminium lost 0.2% to $2,145 a ton after hitting its lowest since Aug. 22 at $2,139.5.
Zinc touched its lowest since Nov 1 at $2,411.5 and was last down 0.4% at $2,420 while lead eased 0.4% to $2,020 after hitting $2,016 for its weakest since June 8.
Tin rose 0.3% to $24,655 and nickel gained 0.6% to $16,320.
(Reporting by Polina Devitt in London; Additional reporting by Mai Nguyen in Hanoi Editing by David Goodman)