* LME investigating electronic trading delay, but no reason
offered - traders
* US set to launch WTO complaint on China aluminium on Thurs
* Indonesia copper miners halt exports on regulation
* Coming up: eurozone industrial production for Nov at 1000
(Adds detail; updates prices)
By Melanie Burton
SYDNEY, Jan 12 London copper traded up half a
percent on Thursday as the dollar dropped after Donald Trump
failed to offer concrete stimulus plans. Electronic trade on the
London Metal Exchange resumed after a five-hour delay.
Trump's first news conference since the Nov. 8 election
contained no details on tax cuts and infrastructure spending,
two factors that had fuelled the five-week rally in stocks and a
selloff in global bond markets.
Hopes Trump would unleash waves of fiscal spending on
infrastructure were a driver for copper prices to punch through
the $5,000 a tonne mark late last year. The dollar fell on
Thursday to the lowest since mid-December against a basket of
currencies at 101.160.
A weaker dollar boosts the buying power of those paying for
commodities with other currencies.
London Metal Exchange copper traded up 0.8 percent at $5,757
a tonne, paring losses from Wednesday.
The LME's electronic trading platform LMESelect reopened at
0600 GMT on Thursday after a five-hour delay. Information on
what caused the outage was not available.
Freeport-McMoRan and other copper miners have halted
Indonesian shipments of copper concentrates to abide by a
government ban on exports of unprocessed metal ores that took
effect on Thursday, a mining ministry official told
"You'd think it (Freeport) would have normal service
resuming in a few days or weeks," said analyst Daniel Morgan at
UBS in Sydney.
"If we don't see some kind of resolution ... in a few weeks'
time that is something that could risk the anticipated global
copper supply for this year."
Traders told Reuters earlier this week that a short-term
halt to exports was unlikely to disrupt markets, with smelters
sufficiently stocked over Lunar New Year at month-end.
Shanghai Futures Exchange (ShFE) copper had edged
down 0.1 percent to 46,980 yuan ($6,798) a tonne by 0724 GMT.
ShFE tin fell 3 percent. Shanghai zinc and
lead dropped around 0.5 percent, while ShFE nickel
slipped 2.3 percent.
Meanwhile, the Obama administration is expected to launch a
complaint against Chinese aluminium subsidies with the World
Trade Organization on Thursday, a person familiar with the
Chinese President Xi Jinping will promote "inclusive
globalisation" at this month's World Economic Forum (WEF) in
Davos and will warn that populist approaches can lead to "war
and poverty", Chinese officials said on Wednesday.
China's National Development and Reform Commission said it
had approved 23 fixed-asset investment projects worth 184.0
billion yuan ($26.53 billion) in December.
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 = 6.9200 Chinese yuan)
(Reporting by Melanie Burton; Editing by Biju Dwarakanath and