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Copper climbs up as geopolitical tensions ease, dollar caps gains

Copper costs drifted higher on Wednesday, rising for a fourth session, as geopolitical concerns alleviated and after costs found technical assistance, but a. stronger dollar capped gains.

Three-month copper on the London Metal Exchange (LME). was up 0.3% at $9,111 per metric load by 1050 GMT.

Following the U.S. governmental election won by Donald. Trump, copper shed almost 10% to a three-month low on Nov. 14 on. worries about his strategies to enforce tariffs on top metals customer. China.

That (the Trump trades) has all been priced in now, so the. markets are waiting on the setup of Trump. We're in a. waiting duration now, said Tom Cost, head of commodities. strategy at Panmure Liberum.

The other day markets were looking at the risk around. long-range U.S. rockets, however market have actually withdrawed and have. calmed down a bit.

In wider financial markets, worldwide shares increased as a cooling. of stress between Russia and the West injected some self-confidence. amongst investors.

The most-traded December copper contract on the Shanghai. Futures Exchange (SHFE) closed 0.7% greater at 74,550. yuan ($ 10,296.96) a heap.

Topping the increase, however, was a firmer dollar index,. making greenback-priced metals more costly for buyers using. other currencies.

Some financiers were dipping into the marketplace after copper. steadied in current days following its losses.

Copper bounced off an important technical level recently,. stated Kyle Rodda, a senior monetary markets expert at. Capital.com.

Concerns about Chinese need remain present and will be. difficult to get rid of, while uncertainty persists about trade. wars and the lack of Chinese stimulus.

China has seen slowing economic development and government. policies up until now have not managed to boost investor confidence.

LME aluminium climbed 1.1% to $2,672.50 a ton,. rising for a 2nd straight session, supported by news last. week that China will cancel the 13% export tax refund for some. aluminium items beginning Dec. 1.

LME nickel increased 1.2% to $16,060, zinc added. 0.8% to $2,975, lead acquired 1.5% to $2,030 and tin. sophisticated 1.7% to $29,365.

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(source: Reuters)