METALS-Copper bounces as investors reassess Trump, look to China stimulus

(Adds Alcoa halting bauxite shipments, updates prices at 1700 GMT) By Eric Onstad LONDON, Nov 7 (Reuters) - Copper prices rebounded on Thursday as investors took another look at the impact of Donald Trump's U.S. election victory and hoped for more stimulus from China. Three-month copper CMCU3 on the London Metal Exchange (LME) climbed 3.5% to $9,670 a metric ton by 1700 GMT, having slid as much as 4.5% on Wednesday to its lowest since Sept. 18. U.S. Comex copper futures HGc2 surged 4.2% to $4.43 a lb. "The long-liquidation rush yesterday is now being replaced by more of a reality check. The market is now adopting a more sanguine approach compared with the initial panic (after Donald Trump's U.S. election victory)," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. Among investor concerns is Trump's threat to impose tariffs on top metals consumer China, but Hansen noted that Trump took about 11 months to take action on tariffs during his first term as President. "The industrial metals market is now looking to Friday and what could come from China in terms of additional announcements of stimulus," Hansen added. The market also got a boost from data on Thursday showing China's exports grew at the fastest pace in over two years in October, while the country's imports of unwrought copper rose. Prices were also supported by a weaker dollar index =USD and expectations that the U.S. Federal Reserve will cut interest rates further later in the day. A weaker U.S. currency makes dollar-priced metals cheaper for buyers using other currencies. Despite the bounce, investors remain concerned that Trump could roll back electrification initiatives, dampening demand for metals such as copper. "Trump's anti-China, anti-green and dollar-supportive policies will keep metals sliding," said Sandeep Daga, a director at Metal Intelligence Centre. LME aluminium CMAL3 climbed 3.3% to $2,701 a ton and touched the strongest in over five months after Alcoa AA.N halted shipments of raw material bauxite from Brazil. Among other metals, nickel CMNI3 jumped 3% to $16,605, zinc CMZN3 advanced 2.8% to $3,055.50, tin CMSN3 gained 1.8% to $31,900 while lead CMPB3 slipped 0.4% to $2,040. For the top stories in metals, click TOP/MTL ($1 = 7.1637 yuan) (Reporting by Eric Onstad; Additional reporting by Mai Nguyen in Hanoi; Editing by David Goodman, Alexander Smith and Shailesh Kuber) (([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected])) (( 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 Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))