METALS-Copper edges higher after report on China stockpiling plans

March 21 (Reuters) - Copper prices in London edged up on Friday, hovering near the psychological mark of $10,000, after a media report that China plans to expand its strategic reserves of key industrial metals this year including cobalt, copper, nickel, and lithium.

The National Food and Strategic Reserves Administration, which manages official commodities stockpiles, made price inquiries and bidding for the metals, Bloomberg News reported, without details on volumes or timing.

Benchmark three-month copper CMCU3 on the London Metals Exchange (LME) was up 0.3% to $9,970 a metric ton as of 0303 GMT.

"The strategic buying news doesn't have much impact on metals prices today, due to lack of details," a trader said.

The dollar firmed, bolstered by the U.S. Federal Reserve's indication that there is no immediate intent to reduce interest rates.

The dollar index =USD rose 0.03 to 103.82, as of 0238 GMT, after climbing 0.36% on Thursday.

A stronger U.S. currency makes dollar-priced metals more expensive for buyers using other currencies.

LME aluminium CMAL3 rose 0.3% to $2,666 a ton, lead CMPB3 was up 0.1% to $2,057.5, zinc gained 0.5% to $2,932 and tin CMSN3 was down 0.1% to $35,310, nickel CMNI3 price was down 2.0% to $16,240 a ton.

SHFE copper SCFcv1 climbed 0.2% to 81,540 yuan ($11,252.64)a ton, SHFE aluminium SAFcv1 was flat at 20,845 yuan a ton, zinc SZNcv1 rose 0.6% to 23,895 yuan, lead SPBcv1 was down 0.5% to 17,590 yuan and nickel SNIcv1 lost 0.3% to 129,890 yuan. Tin SSNcv1 gained 1.0% to 281,620 yuan.

($1 = 7.2463 Chinese yuan renminbi)

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