Copper futures rise

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NEW DELHI- Copper prices rose slightly on Wednesday after a battering in the last three sessions, although a stronger dollar kept gains in check and muted demand prospects in top metals consumer China weighed.

Three-month copper on the London Metal Exchange (LME) was up 0.2 percent to $9,163.5 per metric ton. It had dipped to $9,107 per metric ton, the lowest since Sept. 11, in the previous session.

The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 1.3 percent to 74,830 yuan ($10,359.96) a ton.

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The US dollar held near a 6-1/2-month peak against major peers and bitcoin was solidly poised just below record highs on Wednesday as markets sized up so-called Trump trades ahead of key US inflation data later in the day.

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

“We believe that copper is at the lower end of its trading range and anticipate a potential moderate price recovery next week,” Sucden Financial said in a note.

Investors have also been concerned about the impact of US President-elect Donald Trump’s policies on China.

“Uncertainty over what Donald Trump’s return to the White House will mean for the global economy also weighed on sentiment,” ANZ Research said in a note.

Adding to investor disappointment was the scale of China’s recent stimulus measures to reboot its lacklustre economy.

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