BEIJING, Sept 3 (Reuters): Base metals in Shanghai extended losses on Friday, fuelled by bearish sentiment amid fresh COVID-19 curbs in China and after positive U.S. data gave the Federal Reserve more room for aggressive interest rate hikes.
Leading losses among metals, the most-traded October tin contract on the Shanghai Futures Exchange SSNcv1 plunged 7.1% to 170,150 yuan ($24,646.92) a tonne as of 0211 GMT, after dropping 7.1% on Thursday as well.
ShFE nickel SNIcv1 shed 4.8% to 160,040 yuan a tonne, copper SCFcv1 lost 2% to 59,740 yuan a tonne, zinc SZNcv1 fell 3.5% to 23,765 yuan a tonne.
The southwestern Chinese metropolis of Chengdu announced a lockdown of its 21.2 million residents, as it launched four days of citywide COVID-19 testing.
Meanwhile, parts of China's southern city of Guangzhou and the tech hub of Shenzhen also imposed COVID-19 curbs in battling flare-ups.
In the United States, data on Thursday showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation.
The dollar was headed for a third weekly gain in a row and firmed at a two-decade high ahead of the release of non-farm payrolls data due at 1230 GMT.
Strong dollar often pressures down commodity prices as it means more costs for non-dollar holder to buy the goods.
Three-month aluminium on London Metal Exchange CMAL3 climbed 0.8% to 2,313 a tonne, after stumbled to their lowest in 16 months on Thursday.
LME copper CMCU3 dropped 0.7% to $7,544.50 a tonne, zinc CMZN3 was down 0.5% to $3,242 a tonne, while tin CMSN3 lost 1.7% to $20,700 a tonne, the lowest since January 12, 2021.
