METALS-Metals rise on dollar weakness, but trade jitters cap gains

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(Updates to market close) SHANGHAI, March 17 (Reuters) - Metals were mostly trading higher on the London Metals Exchange on Monday, supported by a weaker dollar, although concerns over U.S. tariffs limited the gains. Benchmark three-month copper CMCU3 on the London Metals Exchange was up 0.3% at $9,810 a metric ton, as of 0750 GMT. The dollar =USD hovered close to a five-month low on Monday, pressured by U.S. President Donald Trump's erratic trade policies. A softer dollar makes greenback-priced commodities more affordable for buyers using other currencies. "In summary, with the US dollar index maintaining a low level, copper prices are expected to find support at the bottom today," information provider Shanghai Metals Market (SMM) said in a note. U.S. President Donald Trump said on Monday he has no intention of creating exemptions on steel and aluminum tariffs and said reciprocal and sectoral tariffs will be imposed on April 2. LME aluminium CMAL3 was up 0.4% to $2,691 a ton, lead CMPB3 gained 0.7% to $2,083.5, zinc lost 0.1% to $2,968.5, tin CMSN3 rose 0.5% to $35,500 and nickel CMNI3 advanced 1.2% to $16,665. SHFE copper SCFcv1 gained 0.6% to 80,520 yuan ($11,120.63) a metric ton, SHFE aluminium SAFcv1 was down 0.3% at 20,925 yuan a ton, zinc SZNcv1 added 0.3% to 24,205 yuan, lead SPBcv1 jumped 0.1% to 17,635 yuan, tin SSNcv1 gained 0.3% to 283,520 yuan and nickel SNIcv1 rose 0.1% to 133,900 yuan. ($1 = 7.2406 Chinese yuan renminbi) (Reporting by Violet Li and Mei Mei Chu; Editing by Sherry Jacob-Phillips and Janane Venkatraman) ((Violet.Li@thomsonreuters.com;)) (( For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))
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Published Date
17 Mar 2025 at 11:51 AM
Publisher
Refinitiv
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