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METALS-Most base metals struggle for momentum as risk appetite wanes

BEIJING, Sept 23 (Reuters) - Most base metals were stuck in a tight range on Friday, as investors weighed prospects of improved demand from China's construction sector against slowing global growth amid rising interest rates and an escalating war in Ukraine.

Three-month copper on the London Metal Exchange dipped 0.2% to $7,666 a tonne by 0157 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange gained 0.3% to 62,560 yuan ($8,822.45) a tonne.

Investors have been on edge amid worries that aggressive monetary policy tightening would slow the global economy, dampening demand for metals. Sentiment has also been hit by Moscow's new mobilisation campaign in its invasion of Ukraine.

The U.S. Federal Reserve delivered a hefty 75-basis-point rate hike on Wednesday and the Bank of England went for a 50-bp rise on Thursday to control inflation.

LME aluminium eased 0.1% to $2,226 a tonne, zinc climbed 0.1% to $3,109.50 a tonne and tin fell 0.5% to $21,550 a tonne.

ShFE zinc rose 1.1% to 24,945 yuan a tonne, nickel lost 1.2% to 193,800 yuan a tonne, and aluminium rallied 0.8% to 18,760 yuan a tonne following a rebound in LME aluminium prices the previous day.

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($1 = 7.0910 Chinese yuan) (Reporting by Siyi Liu and Dominique Patton; Editing by Subhranshu Sahu)

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