METALS-London copper drops as Trump's tariffs raise demand concerns

(updates details and prices for Asia session close) SHANGHAI, April 3 (Reuters) - Copper prices in London dropped on Thursday, as sweeping reciprocal tariffs from U.S. President Donald Trump sparked concerns about global demand for metals. The benchmark three-month copper CMCU3 on the London Metal Exchange (LME) was down 2.1% at $9,493 per metric ton, as of 0735 GMT. Earlier in the day, the contract hit $9,485, its lowest point since March 11. Trump unveiled on Wednesday a minimum tariff of 10% on most goods imported to the United States. The tariffs include significantly higher duties on products from dozens of countries, initiating a global trade war that could potentially increase inflation and hinder economic growth in the U.S. and globally. China's foreign ministry on Thursday urged the United States to correct its "wrongdoing" after it announced the new tariffs. "The reciprocal tariffs have sent shockwaves through today's futures and stock markets. People are on edge, anticipating what retaliatory tariffs other countries might levy. Above all, the specter of an escalating trade war is exerting a dominant influence over the markets," a base metals trader said. Among other metals, LME aluminium CMAL3 lost 1.0% to $2,465 a ton, lead CMPB3 fell 1.0% to $1,949, zinc slid 1.7% to $2,733, tin CMSN3 was down 3.1% at $36,750 and nickel CMNI3 was down 1.0% at $15,805 a ton. SHFE copper SCFcv1 fell 1.3% to 78,860 yuan ($10,800) a ton, SHFE aluminium SAFcv1 lost 0.1% to 20,420 yuan a ton, zinc SZNcv1 lost 0.9% to 23,155 yuan, lead SPBcv1 slid 1.4% to 17,100 yuan, while nickel SNIcv1 was down 1.6% to 127,330 yuan, tin SSNcv1 fell 2.0% to 287,790 yuan. ($1 = 7.3026 Chinese yuan) (Reporting by Violet Li in Shanghai and Lewis Jackson in Beijing; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala) ((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 ))