Base metals retreat on dollar strength, demand outlook gloom

BEIJING, Feb 5 (Reuters) – Prices of base metals opened this week lower because of a stronger U.S. dollar and on expectations that subdued demand will outweigh tight supply this year. Three-month copper on the London Metal Exchange lost 0.3% to $8,457 per metric ton by 0252 GMT, having shed 0.7% in the previous week. The most-traded March copper contract on the Shanghai Futures Exchange slid 0.4% to 68,530 yuan ($9,522.02) per ton. Copper, often used as an economic bellwether, lost on the U.S. Federal Reserve’s remarks last week that pushed back on the idea of an interest rate cut as early as March. And as traders clawed back bets for aggressive rate cuts by the Fed this year following…