Aug 9 (Reuters) -Base metals prices rose on Friday, tracking gains in the equities market and supported by rate cut hopes and better-than-expected U.S. data that relieved some demand worries.

Three-month copper on the London Metal Exchange CMCU3 rose 1.4% to $8,915 per metric ton by 0408 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange SCFcv1 advanced 1.4% to 71,920 yuan ($10,022.44) a ton.

U.S. jobless claims dropped more than expected last week, softening fears of a looming economic downturn that will dampen physical metal demand.

Still, U.S. Federal Reserve policymakers are increasingly confident that inflation is cooling enough to allow interest-rate cuts ahead, which is supportive for metals prices.

However, on a weekly basis, copper is set for the fifth straight fall on both LME and SHFE. Both contracts hit their lowest since March earlier in the week.

Metals prices might continue to rebound for a few more sessions, but there is limited catalyst for higher prices, said a trader, pointing to the LME copper inventories that surged to their highest in September 2019. MCUSTX-TOTAL

"I think we're heading lower (in general) but in a more orderly fashion. The bounces in the market so far are just due to the sudden collapse after the first unwinding of carry trade," said the trader.

The LME cash copper contract was trading at a $123.58-a-ton discount to the three-month contract CMCU0-3, reflecting abundant near-term supply.

LME aluminium CMAL3 increased 1.3% to $2,302.50 a ton, nickel CMNI3 climbed 1.6% to $16,405, zinc CMZN3 advanced 1.9% to $2,696.50, lead CMPB3 rose 2.1% to $2,006 and tin CMSN3 jumped 2.6% to $31,290.

SHFE aluminium SAFcv1 rose 1.4% to 19,175 yuan a ton, nickel SNIcv1 advanced 2.6% to 131,230 yuan, zinc SZNcv1 climbed 3.4% to 22,630 yuan, lead SPBcv1 increased 3% to 17,855 yuan and tin SSNcv1 jumped 4.8% to 257,320 yuan.

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Reporting by Mai Nguyen in Hanoi; Editing by Janane Venkatraman

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