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Copper extends retreat to trade listed below $9,000 level on dollar rally

London copper fell further on Thursday to trade below the $9,000 permetricton level for the very first time in more than 2 months, as the dollar firmed and investors weighed prospects of demand from top consumer China.

Three-month copper on the London Metal Exchange (LME). fell 1.3% to $8,934 per metric lot by 0535 GMT, striking. its most affordable because Sept. 5.

The most-traded December copper agreement on the Shanghai. Futures Exchange (SHFE) declined 2.1% to 73,160 yuan. ($ 10,103.16) a heap, hitting its least expensive since Sept. 12.

The dollar scaled an one-year high, steered by Donald Trump's. victory in the U.S. presidential election. A more powerful greenback. makes dollar-priced metals more costly for other currency. holders.

Trump has promised to adopt blanket 60% tariffs on U.S. imports. of Chinese items as part of a package of America First trade. measures.

The primary concern is U.S. tariffs on China, which impact copper. need through 2 channels - by deteriorating Chinese economic. activity and most likely triggering yuan devaluation, said Kyle Rodda,. a senior monetary markets analyst at Capital.com.

Investors have also been disappointed by the scale of. China's recent stimulus steps to reboot its lacklustre. economy. China's home market is one of the biggest customers. of base metals.

We see copper costs trading lower to $8,500-$ 9,000 per load. into year-end, experts at Citi stated in a note.

We believe raised net financier positioning length in copper. and other base metals is susceptible to a further unwind by the. year-end in reaction to heightened unpredictability around metal. demand prospects next year.

LME aluminium fell 0.8% to $2,511 a heap, nickel. added 0.4% to $15,790, zinc reduced 2% to. $ 2,922, lead lost 0.7% to $1,994 and tin fell. 2.2% to $29,000.

SHFE aluminium dipped 1.1% to 20,585 yuan a ton,. nickel declined 0.8% to 125,140 yuan, lead. dropped 1.2% to 16,960 yuan, zinc slipped 0.7% to. 24,525 yuan, while tin slumped 3.5% to 240,830 yuan.

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(source: Reuters)