Copper futures ease

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NEW DELHI- Copper prices fell slightly on Tuesday tracking a stronger US dollar and lacklustre demand in top metals consumer China.

Three-month copper on the London Metal Exchange (LME) was down 0.2 percent to $9,313 per metric ton. It had dipped to $9,300.5, the lowest since Sept.18, in the previous session.

The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 0.9 percent at 75,880 yuan ($10,503.00) a ton.

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The US dollar traded close to a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration.

A stronger dollar makes greenback-priced metals more costly for holders of foreign currencies.

“With little focus being paid to the effectiveness of subsequent support from China, we anticipate that the dollar will remain the primary factor influencing metal prices this week,” Sucden Financial said in a note.

Investors have also been worried about threats made by US President-elect Donald Trump to impose stiff tariffs on China, which could dampen metals demand.

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