NEW DELHI, Dec 13 (Reuters): London copper prices were little changed on Friday and headed for weekly losses on the back of a stronger US dollar and a lack of clarity around China's stimulus measures.
Three-month copper on the London Metal Exchange (LME) was up 0.02 per cent at $9,088 per metric ton, as of 0721 GMT, and was 0.4 per cent lower for the week so far.
The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) fell 0.8 per cent to 74,790 yuan ($10,279.56) a ton.
The US dollar rose to a 2-1/2-week high against major peers, making greenback-priced metals more expensive for holders of other currencies.
China on Thursday pledged to increase the budget deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate as it gears up for more trade tensions with the United States as Donald Trump returns to the White House.
The readout of an annual agenda-setting meeting, however, did not disclose the size of the stimulus measures.
"We highlight that the market is poised for a period of significant price volatility, with anticipated U.S. dollar strength and shifts in trade policies following a Trump victory acting as major headwinds, while the outlook remains heavily contingent upon China's economic momentum," said BMI, a unit of Fitch Solutions.
LME aluminium dipped 0.3 per cent to $2,592.5 a ton, zinc gained 0.5 per cent at $3,090, nickel was up 0.1 per cent to $16,190, lead dropped 0.3 per cent to $2,000 and tin rose 0.2 per cent to $29,580.
SHFE aluminium lost 0.6 per cent to 20,350 yuan a ton, tin fell 0.8 per cent to 248,900 yuan, zinc declined 0.2 per cent to 25,850 yuan, lead dropped 0.9 per cent to 17,380 yuan while nickel advanced 1.2 per cent at 129,110 yuan.
