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Copper edges down on mixed China economic data



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By Violet Li and Mei Mei Chu

SHANGHAI, Dec 16 (Reuters) -London copper edged down on Monday after China's economic data showed a mixed recovery among different sectors, while a softer U.S. dollar lent some support.

Three-month copper on the London Metal Exchange (LME) CMCU3 edged down 0.1% to $9,040.5 per metric ton by 0309 GMT.

The most-traded January copper contract on the Shanghai Futures Exchange SCFcv1 was down by 0.4% to 74,400 yuan ($10,218.80) a ton.

China's industrial output quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more U.S. trade tariffs under a second Donald Trump administration.

A lack of clarity around China's stimulus measures weighed on copper prices last week, although LME data showed rising amounts of metal waiting to leave its registered warehouses.

A weaker dollar USD supported the market, making it less expensive to buy the greenback-priced commodity.

The Federal Reserve will lead the pack on Wednesday with markets pricing a 96% probability it will cut rates by 25 basis points. 0#USDIRPR

LME aluminium CMAL3 was down 0.2% at $2,599 a ton, zinc CMZN3 fell 0.4% to $3,082, lead CMPB3 was relatively unchanged from last closing price at $2,010.5, tin CMSN3 fell 0.2% to $29,040, while nickel CMNI3 was down 0.3% to $15,815.

SHFE aluminium SAFcv1 slipped 0.8% to 20,220 yuan a ton, tin SSNcv1 was down 1.9% at 244,420 yuan, nickel SNIcv1 slid 2.3% to 126,390 yuan, while zinc SZNcv1 rose 5 yuan to 25,700 yuan and lead SPBcv1 fell 0.2% to 17,405 yuan.


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($1 = 7.2756 Chinese yuan renminbi)



Reporting by Meimei Chu and Violet Li; Editing by Mrigank Dhaniwala

 For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C 
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