METALS-London copper rebounds on China stimulus hope

(Updates prices) By Mai Nguyen Nov 7 (Reuters) - Copper prices rose in London on Thursday on hopes of further China stimulus and as prices rebounded from the previous session's slump, triggered by a knee-jerk sell off after Donald Trump won the U.S. presidency. Three-month copper on the London Metal Exchange (LME) CMCU3 rose 1.5% to $9,481 per metric ton by 0743 GMT. The contract fell to its lowest since Sept. 18 to $9,302 a ton on Wednesday. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 closed down 1.3% at 76,480 yuan ($10,676.05) a ton. Earlier in the session, it hit 75,520 yuan, its lowest since Sept. 23, tracking overnight losses in London. "There's market expectations China will ramp up its stimulus measures due to Trump's victory to counteract the fallout from Trump's proposed tariff plan on Chinese imports," said a trader. The U.S. Federal Reserve is expected to further cut interest rates later in the day, which will likely support economic growth and metals demand and weaken the dollar, making greenback-priced metals cheaper to holders of other currencies. However, Donald Trump's win spurred concerns that major electrification initiatives would be rolled back, dampening demand for metals, including copper, and that the global metals demand-supply balance could be impacted, causing potential price swings. "I doubt if bulls will be interested in metals. 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 rose 1.2% to $2,646 a ton, nickel CMNI3 increased 1.4% to $16,360, zinc CMZN3 advanced 2.1% to $3,036, while lead CMPB3 eased 0.1% to $2,046.50 and tin CMSN3 rose 1.1% to $31,700. SHFE aluminium SAFcv1 rose 1.8% to 21,450 yuan a ton, nickel SNIcv1 advanced 1% to 127,260 yuan, lead SPBcv1 climbed 1.4% to 16,900 yuan, zinc SZNcv1 edged up 0.3% at 25,170 yuan while tin SSNcv1 fell 0.7% to 260,800 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L ($1 = 7.1637 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich and Sumana Nandy) (([email protected]; 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 ))