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METALS-Shanghai metals start Q2 with gains on weaker dollar

BEIJING, April 2 (Reuters) - Shanghai base metal prices made a positive start to the second quarter on Monday as the dollar weakened against the Chinese currency, making metals cheaper for holders of other currencies and supporting prices. The London Metal Exchange remains closed on Monday for the Easter holiday.

FUNDAMENTALS

* SHFE COPPER: The most-traded May copper contract on the Shanghai Futures Exchange percent climbed 0.3 percent to 50,150 yuan ($7,995.73) a tonne by 0155 GMT.

* ALUMINIUM: ShFE aluminum climbed 0.9 percent to 13,850 yuan a tonne. Deliverable ShFE aluminum inventories increased by more than 30,000 tonnes last week to a record high above 970,000 tonnes, the exchange said on Friday.

* ALUMINIUM: China has slapped extra tariffs of up to 25 percent on 128 U.S. products including scrap aluminum, in response to U.S. duties on imports of aluminum and steel, China's finance ministry said.

* USD: The dollar index, which measures the greenback against a basket of six other major currencies, was down 0.2 percent at 89.93.

* NICKEL: Shanghai nickel was the biggest gainer in the base metals complex, rising 1.8 percent to 100,750 yuan a tonne, tracking a rise in the ferrous metals complex. Nickel is used to make stainless steel.

* COPPER: China's top copper smelters on Friday cut their minimum treatment and refining charges for copper concentrate by 10.3 percent for the second quarter of 2018, two people with direct knowledge of the matter said. For the top stories in metals and other news, click or

MARKETS NEWS

* Asian stocks began the new quarter on Monday with mild gains following a strong performance by global equities last week.

PRICES

BASE METALS PRICES 0156 GMT Most active ShFE copper 50150 Most active ShFE aluminum 13850 Most active ShFE zinc 25010 Most active ShFE lead 18940 Most active ShFE nickel 100750 Most active ShFE tin 144800

($1 = 6.2721 Chinese yuan renminbi)

(Reporting by Tom Daly Editing by Aaron Sheldrick)