LONDON, Sept 28 (Reuters) - Copper prices slipped on Tuesday
on a stronger dollar and concern about the impact of power cuts
in top metals consumer China, where the economy has already been
Three-month copper on the London Metal Exchange was
down 1.1% at $9,260 by 1605 GMT, after rising 0.3% on Monday.
Copper has eased from a record peak of $10,747.50 touched in
May, but it is still up 20% so far this year.
"We have the risk of a sudden spike in the dollar, which
will weigh on the market," said Gianclaudio Torlizzi, partner at
consultancy T-Commodity in Milan.
"And we have a worsening situation in China due to a double
shock - the credit crunch from Evergrande and a shock coming
from the energy crisis. It's a very tricky market to trade so I
think a lot of people will stay on the sidelines."
In China, a shortage of coal supplies, toughening emissions
standards and strong demand from manufacturers and industry have
pushed coal prices to record highs and triggered widespread
curbs on usage.
The U.S. dollar rose to its highest in more than five weeks
due to rising bond yields, making metals priced in dollars more
expensive for buyers using other currencies.
* The global zinc market deficit narrowed to 6,600 tonnes in
July from a revised deficit of 40,000 tonnes in June, while a
surplus in the global lead market fell to 11,700 tonnes from
13,400 tonnes during the same period, data showed.
* LME nickel was the biggest loser, sliding 2.1% to
$18,545 a tonne after shedding more than 2% on Monday. "The
power curtailment policy affects part of the downstream
consumption of nickel," brokerage Huatai Futures said in a note.
* LME tin bounced by 1.9% to $35,780 a tonne, having
tumbled more than 4% on Monday after power usage curbs in China
also cut demand for refined tin.
* LME aluminium gained 1.7% to $2,931.50, zinc
added 0.2% to $3,072.50, while lead rose 0.3% to
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(Additional reporting by Mai Nguyen in Hanoi and Tom Daly
Editing by Susan Fenton and Mark Potter)