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METALS-Shanghai aluminium, copper dip as dollar strength, slowdown fears weigh

       June 14 (Reuters) - Shanghai aluminium and copper prices
fell on Tuesday, as a robust U.S. dollar, fears of potential
lockdowns in top consumer China and the prospects of aggressive
rate hikes by the Federal Reserve dented trader sentiment.

    FUNDAMENTALS
    * The most-traded July aluminium contract in Shanghai
         was down 1.4% at 19,940 yuan ($2,958.59) a tonne, as of
0258 GMT, its lowest since May 11.
    * ShFE copper          dropped 0.7% to 71,450 yuan
($10,601.36) a tonne.
    * Three-month aluminium on the London Metal Exchange
was up 0.2% at $2,634 a tonne, after hitting its lowest since
Dec. 15 on Monday.
    * Authorities in China's capital Beijing raced on Monday to
contain a COVID-19 outbreak traced to a 24-hour bar known for
cheap liquor and big crowds, with millions facing mandatory
testing and thousands under targeted lockdowns.
    *  The U.S. dollar stood by a fresh 20-year peak on Tuesday
and just about everything else nursed losses as investors braced
for Fed rate hikes and a possible recession.
    * A stronger dollar makes greenback-denominated metals more
expensive for buyers using other currencies.
    * China has allocated 1.4 billion yuan ($207.35 million) to
support cold chain and national logistics hub construction in
the new year, the country's state planner said on Tuesday.

    * Lead surpluses in top consumer China will cancel out
shortages of the battery material in Europe and the United
States, effectively leaving the global market in balance this
year.
    * Ghana is on a roadshow to find a strategic partner to
rebuild state-owned Volta Aluminum Company's aluminium smelter.


    MARKETS NEWS
    * Asian shares tumbled after Wall Street officially entered
bear market territory and bond yields hit a two-decade high.


    DATA/EVENTS (GMT)
    0600  UK       Claimant Count Unem Chng  May
    0600  Germany  HICP Final YY             May
    0600  UK       ILO Unemployment Rate     April
    0900  Germany  ZEW Economic Sentiment    June
    0900  Germany  ZEW Current Conditions    June


    PRICES
    Three month LME copper
    Most active ShFE copper
    Three month LME aluminium
    Most active ShFE aluminium
    Three month LME zinc
    Most active ShFE zinc
    Three month LME lead
    Most active ShFE lead
    Three month LME nickel
    Most active ShFE nickel
    Three month LME tin
    Most active ShFE tin


    ($1 = 6.7397 Chinese yuan)

 (Reporting by Brijesh Patel in Bengaluru; Editing by Sherry
Jacob-Phillips)



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