NEW DELHI: Copper prices edged lower on Wednesday, tracking a stronger dollar and muted demand prospects in top metals consumer China. Three-month copper on the London Metal Exchange (LME) was down 0.1% to $9,130 per metric ton by 0408 GMT.

It had dipped to $9,107 per ton, its lowest level since Sept. 11 on Tuesday. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 1.7% to 74,540 yuan ($10,318.81) a ton.

The US dollar held near a 6-1/2-month peak against major peers and bitcoin was solidly poised just below record highs on Wednesday as markets sized up so-called Trump trades ahead of key US inflation data later in the day.

A stronger dollar makes greenback-priced metals more costly for holders of foreign currencies.

“We believe that copper is at the lower end of its trading range and anticipate a potential moderate price recovery next week,” Sucden Financial said in a note.

Investors have also been concerned about the impact of US President-elect Donald Trump’s policies on China.

“Uncertainty over what Donald Trump’s return to the White House will mean for the global economy also weighed on sentiment,” ANZ Research said in a note.

Copper bounces as investors reassess Trump and look to China stimulus

Adding to investor disappointment was the scale of China’s recent stimulus measures to reboot its lacklustre economy.

Among other metals, LME aluminium fell 0.4% to $2,553.5 a ton, nickel rose 0.2% to $15,925, zinc edged lower 0.02% to $2,937.5, while lead firmed up 0.6% to $2,037 and tin fell 1.4% to $29,800.

SHFE aluminium fell 1.5% to 20,805 yuan a ton, nickel declined 1.8% to 125,270 yuan, lead climbed 1.7% to 17,250 yuan, zinc edged lower 0.9% at 24,680 yuan while tin slumped 4.3% to 246,460 yuan.