LME metals pare losses at kerb, but seen shaky

London Metal Exchange (LME) prices recovered a little ground late on Friday after earlier losses, but the market remained vulnerable to further falls in the short term, traders said.
Traders said business was thin, with deals done during open-outcry trade allowing copper to fluctuate.
"We may go down again in the coming sessions as more people appear to be in the mood for selling, although further out firm fundamentals should lift the market again, particularly copper," a trader said.
Three months copper ended ring trading at $2,698, shedding $46 from Thursday's evening kerb close at $2,744 but off its low at around $2,662.
"There is consumer interest in copper, aluminium and zinc at the lower numbers, but that is mostly evident in a rising market, so we can't count on stability right now," the trader said.
Traders said a slight easing in copper's three-months backwardation to around $40 in late Thursday trading had encouraged trade and consumer borrowing on fears that the backwardation could rise again.
Traders had looked to economic data on jobless figures in the United States on Friday to provide direction, with many anticipating a bearish impact on LME prices if the data had raised prospects of higher interest rates and a firmer dollar, traders said. However, the data was viewed as largely neutral after it came in at the high end of expectations but still disappointed investors who had bet that a powerful surge in job creation would boost demand for dollars.
The Fed is widely expected to raise benchmark US interest rates from a 46-year low of 1 percent at a monetary policy meeting at the end of the month.
In other metals, aluminium also moved off an earlier dip down to $1,655 to close ring trading at $1,662 versus $1,682.
Nickel moved down to $11,800 a tonne from $12,175, while tin was down $150 at $9,100.
Lead was indicated $1 lower at $817, while zinc shed $28 to $1,110. Zinc's losses had already been priced in by the time news arrived of an expected end to the workers' strike at Europe's biggest zinc mine, traders said.
Workers at Ireland's Tara zinc and lead mine will return to work at midnight after they reached an agreement with management to end the three-day stoppage, the union said on Friday.
"The dispute has been resolved based on an agreement between SIPTU (the union) and management to engage mediators to examine all outstanding industrial relations issues," a SIPTU spokeswoman said.