On Friday, all eyes were on this morning’s jobs report in the U.S. and the numbers came in well below expectations. The private sector added 95,000 jobs in March (less than half the consensus forecast) while the government sector shed 7,000 jobs and the labor force contracted by nearly 500,000. Base metals softened on the news. While the SHFE was closed for the holiday, LME 3-mo. copper and aluminum reportedly traded as low as $7,384/mt ($3.349/lb.) and $1,868/mt (84.7 cents/lb.), respectively, today. In New York, copper and crude oil futures ended the day in negative territory but gold futures rallied, climbing over $20 to $1,575.90/to. The subpar jobs numbers also gave a boost to the bond market, briefly pulling the yield on 10-year Treasury notes below 1.7%, but stocks on Wall Street retreated. The Dow Industrials finished the day 0.28% lower at 14,565.25 while the dollar slipped to $1.30 vs. the Euro…
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