London copper dips

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BEIJING- London copper dipped on Wednesday, weighed down by pressure from a stronger dollar, while caution prevailed ahead of key economic data releases by top metal consumer China.

Three-month copper on the London Metal Exchange slid 0.1 percent  to $8,343.50 per metric ton, while the most-traded February copper contract on the Shanghai Futures Exchange was up 0.2 percent  at 67,940 yuan ($9,448.97) per ton.

China, the world’s second largest economy, will release its gross domestic product and industrial output data later in the day, which is expected to provide further clues on demand outlook.

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China’s economic growth is likely to slow to 4.6 percent  in 2024, and cool further to 4.5 percent  in 2025, a Reuters poll showed.

Also weighing on the market was a steady dollar, making it more expensive to buy the greenback-priced commodity.

The dollar index hovered near a one-month high against a basket of currencies, as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut.

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