London 31/08/2016 - Base metals ended Wednesday LME trading mixed but for the most part little changed - investors are now awaiting Chinese manufacturing PMI data that is scheduled for release tomorrow before Friday's blockbuster jobs report.
In data this afternoon, US ADP non-farm payrolls - often seen as a precursor to Friday's numbers - were a better-than-expected 177,000. Pending home sales were also upbeat at 1.3 percent although the Chicago PMI disappointed at 51.5.
Market participants will now focus on Friday's US jobs report, which could determine whether the US Federal Reserve will lift interest rates in the near term. The market expects August's non-farm employment change at 186,000.
Hawkish comments from Fed chair Janet Yellen and other US central bank speakers have lifted expectations that it will raise rates this year. There is a 24-percent chance of an increase in September but most expect a rise only in December, according to the CME FedWatch tool.
In currencies, the dollar is stronger. It was last at 96.05 - around three-week highs.
"The dollar will remain a key driver for market direction in the near term while markets adjust expectations for the trajectory of US interest rates. Trade conditions are likely to remain slow due to month-end book squaring and ahead of the US Labor day holiday on Monday," FastMarkets analyst James Moore said.
Elsewhere, data from the EU disappointed today. The CPI flash estimate and core CPI flash data both undershot at 0.2 percent and 0.8 percent respectively. The eurozone unemployment rate was 10.1 percent.
In the metals, copper concluded at $4,617 per tonne, up $10 on the previous close having yesterday hit fresh month lows when it attempted - but failed - to break below $4,600.
Around 13,000 lots changed hands on Select by the kerb close.
Stocks continue to climb in LME-listed warehouses in Asia, rising a net 10,300 tonnes to 293,525 tonnes, the bulk of which went into Port Klang and Singapore although there were also arrivals in Kaohsiung, Gwangyang and Chicago.
Aluminium ended at $1,614, down $16, after cancellations fell 18,675 tonnes to 898,925 tonnes, including an 11,775-tonne decline in Vlissingen. Stocks fell 5,450 tonnes to 2,234,050 tonnes.
Nickel at $9,765 was $65 lower; stocks fell 744 tonnes to 370,116 tonnes.
Zinc slipped $1 lower to conclude at $2,310. Stocks and cancelled warrants both slipped 1,350 tonnes to 451,950 tonnes and 23,025 tonnes respectively.
Lead was the day's best performer- it closed at $1,904.50, up $26.50 or around 1.4 percent, with stocks and cancelled warrants both 425 tonnes lower at 187,300 tonnes and 67,375 tonnes respectively.
Tin at $18,875 was up $75; stocks fell 425 tonnes to 4,460 tonnes. The slide in inventories is keeping the spreads tight, with cash/threes last at a backwardation of $7.
(Additional reporting by Kathleen Retourne, editing by Mark Shaw)