Shanghai Futures Exchange copper slipped 0.6 percent to 50,030 yuan ($7,441) a tonne on Wednesday as a slightly firmer dollar sparked profit-taking while a brightening view of China's growth prospects underpinned prices. ShFE aluminium finished up by 2.1 percent. Aluminium in London and Shanghai climbed on talks of more cuts to production capacity in China.
The dollar extended its modest bounce from 15-month lows on Wednesday, benefiting from a pause in selling of the battered currency as investors begin positioning for key events this week, notably Friday's US employment report. Fundamentally, appetite has picked up for metals, after a solid round of economic reports this week, said economist Amy Li of National Australia Bank in Melbourne. "The market overall is a bit more bullish. Chinese demand has been resilient, China's data on Monday was reasonably strong especially around real estate and infrastructure sectors," the economist said.
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