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Copper slides to two-month low on disquiet over Trump and China

Copper costs slumped to the least expensive in 2 months on Tuesday on worries about the effect of incoming U.S. President Donald Trump on the economy of top metals consumer China.

Three-month copper on the London Metal Exchange (LME). was down 2% at $9,141 per metric lot by 1100 GMT, having. touched the weakest since Sept. 11 at $9,115.

Trump is expected to tap U.S. Senator Marco Rubio to be his. secretary of state, sources informed Reuters on Monday, arguably the. most hawkish option on Trump's shortlist and somebody who has. promoted for a muscular China policy.

Trump hasn't pulled back on the concept of presenting tariffs. targeting China. That's truly going to harm that economy. due to the fact that it's vulnerable right now, it's not as robust as it was. in 2018/19, stated Tom Cost, head of commodities strategy at. Panmure Liberum.

We're also now fading into the seasonal low period for Asia. and China metals demand.

The most-traded December copper agreement on the Shanghai. Futures Exchange (SHFE) fell 1.6% to 75,310 yuan. ($ 10,406.82) a load.

Contributing to market gloom is investor dissatisfaction about the. scale of China's stimulus procedures.

Also weighing on metals was a buoyant U.S. dollar, which. touched a four-month peak against a basket of other significant. currencies as financiers continued to stack into trades. viewed as gaining from the Trump administration.

A stronger dollar makes greenback-priced metals more pricey. for purchasers utilizing other currencies.

LME aluminium fell 1.1% to $2,558.50 a lot, nickel. reduced 0.7% to $15,995 and zinc dropped 1.8% to a. seven-week low of $2,925.50.

Tin toppled 4.3% to $29,950, the weakest in over. 3 months, while lead edged up 0.1% to $2,024.

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(source: Reuters)