London 06/05/2016 - Base metals apart from aluminium ended the week in positive territory on the LME, recovering from earlier losses.
"The shorts took profit and bargain hunters bought at lows and metals regained some losses," Richard Fu of AMT said.
This week's key data, US non-farm payrolls, fell short of forecasts, lowering the probability of the Federal Reserve raising interest rates any time soon.
The US economy added 160,000 jobs in April - the fewest in seven months and missing expectations of around 200,000 - while the unemployment rate was unchanged at 5.0 percent. The February total was revised downward to 233,000 from 245,000 and March to 208,000 from 215,000.
Still, average hourly earnings increased eight cents to $25.53 following an increase of six cents in March.
"A rebound in the dollar index may be put on hold after the latest NFP data gave few signs that a June rate rise is likely," FastMarkets' Andy Farida said. "Precious metals rose after the poor report while base metals continued to consolidate."
At its last meeting, the US Federal Reserve maintained its historically low nominal interest rates and did not signal to markets that another rate increase was imminent.
And today's data will only reinforce investors' belief that the Fed will not raise rates until December, which is still the likeliest target date, according to the CME Group's FedWatch.
The dollar tumbled following the release - the dollar index was last at 93.60.
"A weaker US dollar will support dollar-based assets yet the demand outlook fails to instil confidence in the short term," a trader said.
Traders will now await Chinese data over the weekend - the trade balance and the dollar-denominated trade balance are tentatively scheduled.
In the metals, copper concluded at $4,810 per tonne, up $25 on Thursday's close. Spreads remained backwardated - cash/threes was last at $16.25 while the sensitive Tom'/Next was at $2.15. The most recent LME data showed there was one holder in the 50-79-percent bracket for both the 'Tom' and the cash position.
Stocks rose a net 2,900 tonnes to 159,025 tonnes while cancelled warrants edged 75 tonnes lower at 42,525 tonnes.
Aluminium at $1,598 was down $10.50. Stocks and cancelled warrants both fell 2,900 tonnes to 2,617,550 tonnes and 42,525 tonnes respectively.
Lead ended $15 higher at $1,751 while zinc at $1,888 was up $27, having fallen yesterday to its lowest since April 14. Stocks and cancelled warrants both slipped 1,125 tonnes to 395,175 tonnes and 30,525 tonnes respectively.
Nickel at $9,065 was up $45. Stocks slipped 150 tonnes to 415,284 tonnes but the recent trend for cancellations continued - 4,596 tonnes were booked for removal.
Tin at $17,425 was up $75. Stocks continued to build, up 90 tonnes to 5,950 tonnes, while cancelled warrants increased 40 tonnes to 635 tonnes.
Steel billet was last indicated at $65/115 and cobalt and molybdenum at $23,500/24,000 and $13,300/13,800 respectively. Cobalt cancelled warrants rose two tonnes to 58 tonnes.
(Additional reporting by Kathleen Retourne and Tom Jennemann, editing by Mark Shaw)