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LONDON: Copper prices edged up to their highest in more than a week on Wednesday on a softer dollar while aluminium retreated as raw material prices slumped, raising expectations of more supply.

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(Bloomberg) -- Copper rallied in New York and slumped in London after President Donald Trump pledged import tariffs that risk raising costs for American manufacturers while dampening global demand.

President Trump's tariff plan on U.S. copper and aluminium imports aims to boost domestic production but may lead to higher costs for consumers due to the current shortfall in domestic supply.