Copper ticks higher on weaker dollar

LONDON, Jan 10 (Reuters): Copper prices edged higher on Wednesday on a softer dollar and as investors took a breather from bearish bets that have weighed on the market so far this year.
Three-month copper on the London Metal Exchange was up 0.2 per cent at $8,384.50 per metric ton by 1025 GMT.
"Having fallen for eight out of the last nine sessions, the market is due for some kind of consolidation," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
LME copper had shed nearly 5 per cent at its low on Tuesday since touching the highest in nearly five months on Dec. 28.
"As we approach the inflation print tomorrow, the dollar has given back some of its strength, so that's also adding some support," Hansen added.
The dollar index eased ahead of US inflation data on Thursday, which Hansen said is expected to keep hopes alive for US rate cuts later this year.
A weaker dollar makes it cheaper for non-dollar buyers to purchase the greenback-priced commodity.
Although end-users in China have slowed down copper consumption in January, a traditionally weak demand period.