BEIJING, June 7 (Reuters) - Prices of base metals rose on Wednesday, supported by hopes of stimulus from top consumer China to revive its embattled property sector and bolster economic growth, with a weaker dollar also lending some support.
Three-month copper on the London Metal Exchange was up 0.1% to $8,347.50 a tonne by 0135 GMT, and the most-traded July copper contract on the Shanghai Futures Exchange was up 0.4% to 66,790 yuan ($9,381.94) a tonne.
Hopes for more stimulus in the property sector, once the pillar of the country's economic growth, propelled demand outlook as construction is a main consumer for most industrial metals.
Investors also bet China to further cut banks' reserve ratio and interest rates in the second half of this year to support the economy, following a report by state-owned media.
Low stocks of metals in China also aided the sentiment.
The U.S. dollar dipped on Wednesday, making it more attractive for non-dollar holders to buy the greenback-priced commodity.
LME aluminium gained 0.8% at $2,226.50 a tonne, tin was up 0.3% at $25,700, zinc climbed 0.8% to $2,337, lead moved up 0.5% to $2,036.50, and nickel rose 1.2% to $21,225.
SHFE aluminium ticked up 0.2% to 18,140 yuan a tonne, zinc added 1.2% at 19,550 yuan, lead increased 0.5% to 15,130 yuan, nickel was up 1.9% to 161,800 yuan, and tin nudged 0.3% up at 209,300 yuan.
For the top stories in metals and other news, click or
($1 = 7.1190 Chinese yuan renminbi) (Reporting by Siyi Liu and Dominique Patton; Editing by Sonia Cheema)
