Copper, other metals up

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BEIJING- Copper and most other metals in London rose on Wednesday after a sell-off in the previous session, although gains were limited by a firmer US dollar.

Three-month copper on the London Metal Exchange was up 0.3 percent  at $9,694.50 per metric ton, after a 1.5 percent  drop on Tuesday.

The most-traded August copper contract on the Shanghai Futures Exchange slid 0.8 percent  to 78,740 yuan ($10,835.28) a ton.

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Weak demand in top consumer China has been a key reason behind the recent fall in prices, although supply issues mostly on the mining side have lent some support to the market.

Market participants were awaiting the third plenum that started on Monday to outline efforts to promote advanced manufacturing, manage a vast property crisis and boost domestic consumption.

The dollar rose after a reading of US retail sales proved to be firmer than expected, but was still soft enough to keep expectations intact for a Federal Reserve rate cut this year.

A stronger dollar makes it more expensive to buy the greenback-priced commodity.

LME aluminum climbed 0.5 percent  to $2,417 a ton, zinc increased 0.4 percent  to $2,892, lead climbed 0.2 percent  to $2,189, nickel rose 0.3 percent  to $16,645, while tin slid 0.4 percent  to $33,045.

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