METALS-London copper edges up, stronger dollar caps rise

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NEW DELHI, March 27 (Reuters) - Copper prices in London edged up on Thursday as markets tracked inflows of the industrial metal to the U.S. as demand rose ahead of potential tariffs, but a stronger dollar checked gains. The benchmark three-month copper CMCU3 on the London Metals Exchange (LME) added 0.4% to $9,969 a metric ton as of 0241 GMT. In the last session, prices hit $10,164.5 a metric ton, the highest since June 7. Traders have been bidding up copper prices especially those in New York, after U.S. President Donald Trump ordered a probe into potential tariffs on copper imports to rebuild U.S. production of the metal. "Trump's announcement has led to frontloading and (the) market is trying to price in tariffs and there have been (a) lot of inflows in the U.S. market," said ANZ Commodity Strategist Soni Kumari. "Once there is clarity around tariffs, this will subside as demand from (the) U.S. will soften and that will weigh on prices." On Wednesday, Trump unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war. The dollar index =USD , which measures the greenback against six rivals, hovered near the three-week high touched in the previous session. USD/ A stronger dollar makes greenback-priced commodities more expensive for buyers using other currencies. Among other metals, LME aluminium CMAL3 added 0.1% to $2,610.5 a ton, lead CMPB3 fell 0.6% to $2,080, zinc dipped 0.3% to $2,948, tin CMSN3 declined 0.7% to $34,840 and nickel CMNI3 eased 0.4% to $16,175 a ton. SHFE copper SCFcv1 slid 1.06% to 81,540 yuan ($11,226.15) a ton, SHFE aluminium SAFcv1 gained 0.6% to 20,820 yuan a ton, zinc SZNcv1 dropped 0.2% to 24,110 yuan, lead SPBcv1 advanced 0.1% to 17,595 yuan, nickel SNIcv1 eased 0.05% to 130,020 yuan and tin SSNcv1 rose 0.2% to 279,100 yuan. ($1 = 7.2634 Chinese yuan) (Reporting by Neha Arora; Editing by Sumana Nandy) ((neha.dasgupta@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
27 Mar 2025 at 10:48 AM
Publisher
Refinitiv
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