Dec 5 (Reuters) - Base metals prices mostly declined on Tuesday, as a steady dollar made greenback-priced commodities more expensive to holders of other currencies.
Three-month copper on the London Metal Exchange (LME) was almost flat at $8,446 per metric ton by 0554 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange (SHFE) fell 0.9% to 68,200 yuan ($9,546.61) a ton.
The dollar regained some ground and hovered near a one-week high against major peers, in part due to a reversal of its heavy selloff in recent weeks.
"The subsequent strength in the U.S. dollar saw investor appetite for risky asset classes weaken. This comes as the market ponders whether policy stimulus measures in China will offset the drag from developed markets next year," said ANZ analysts in a quote.
China's services activity expanded at a quicker pace in November, creating a mixed picture of the world's second biggest economy and lowering the chance of a big stimulus package that metals bulls have been expecting.
LME aluminium edged down 0.1% at $2,180.50 a ton, nickel lost 1.9% to $16,405, zinc eased 0.4% to $2,443, and tin shed 0.6% to $23,910.
LME lead was almost flat at $2,094 a ton, having fallen for 11 straight sessions that dragged the contract to its lowest since Nov. 1 on Monday.
SHFE aluminium hit its lowest since Aug. 30 at 18,380 yuan a ton. SHFE zinc also dropped to its lowest since Aug. 30 at 20,470 yuan.
SHFE nickel fell 3% to 126,170 yuan a ton, lead declined 0.5% to 15,630 yuan and tin was up 0.3% at 200,250 yuan.
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($1 = 7.1439 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Mrigank Dhaniwala and Rashmi Aich)
