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METALS-Copper, aluminium rebound as dollar rally pauses; growth fears cap gains

    (Recasts, adds details, updates prices)
    By Brijesh Patel
    June 14 (Reuters) - London copper and aluminium prices
rebounded on Tuesday, helped by a slight pullback in the U.S.
dollar, although a spike in COVID-19 cases in Beijing and global
slowdown worries weighed on investor sentiment.
    Three-month copper on the London Metal Exchange         rose
0.8% to $9,365.50 a tonne, as of 0705 GMT, while aluminium
        was up 0.3% at $2,635, after hitting its lowest since
Dec. 15 on Monday.
    The most-traded July aluminium contract in Shanghai
ended daytime trading 1% lower at 20,005 yuan ($2,976.93) a
tonne, after falling to its lowest since May 11 earlier in the
session.
    Offering some respite, the dollar        rally stalled as
the U.S. currency fell 0.2% against its rivals, making
greenback-denominated metals less expensive for buyers using
other currencies.
    "Concerns of weaker economic growth as central banks hike
rates weighed on sentiment in the base metals market," commodity
strategists at ANZ said in a note.
    "Following the easing of some restrictions in recent weeks,
the market was reminded of the rollercoaster ride it is on when
authorities in Shanghai sealed a district for mass testing.
These little outbreaks of COVID-19 could hinder the economic
recovery and weigh on demand."
    Beijing's authorities have launched an investigation into a
24-hour bar that they believe to be at the centre of a cluster
of more than 250 COVID-19 cases in China's capital since last
week, local media reported on Tuesday.
    Rising expectations that the U.S. Federal Reserve will this
week raise interest rates by more than previously forecast
unsettled investors.

    * 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 Aluminium Co's aluminium smelter.

    OTHER METALS: LME zinc         rose 0.9% to $3,646.50 a
tonne, lead         edged 0.1% higher to $2,100, nickel
eased 0.3% to $25,855, and tin         fell 0.8% to $32,645.
    Shanghai copper          was down 0.5%, zinc          rose
0.3%, nickel          was down 2.9%, lead          edged 0.2%
lower, and tin          dropped 4.3%.

 ($1 = 6.7345 Chinese yuan)

 (Reporting by Brijesh Patel in Bengaluru; Editing by Sherry
Jacob-Phillips, Shounak Dasgupta and Subhranshu Sahu)



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