KUALA LUMPUR, Feb 10 (Reuters) - Malaysian palm oil futures opened higher on Monday, supported by stronger rival Dalian oils, while traders awaited cargo surveyors' export estimates and the Malaysia Palm Oil Board's (MPOB) supply and demand data for further cues. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange gained 25 ringgit, or 0.56%, to 4,529 ringgit ($1,013.65) a metric ton in early trade. The contract has risen for a fourth consecutive session. FUNDAMENTALS Dalian's most-active soyoil contract DBYcv1 rose 0.69%, while its palm oil contract DCPcv1 added 1.34%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.65%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. The Malaysian Palm Oil Board is expected to release its January supply and demand data later in the day. Cargo surveyors are expected to release Malaysian palm oil export estimates for February 1-10 later in the day. Oil prices ticked higher even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit MYR=, palm's currency of trade, weakened 0.63% against the dollar, making the commodity cheaper for buyers holding foreign currencies. Palm oil may rise to 4,591 ringgit per metric ton, as suggested by a retracement analysis and a falling channel, Reuters technical analyst Wang Tao said. MARKET NEWS Asian shares slipped and the dollar edged higher, after Trump repeated warnings of imminent tariffs including on steel and aluminium, an inflationary move that could limit the scope for rate cuts.
