NEW DELHI: Copper prices in London edged higher on Monday, tracking some weakness in the dollar, although concerns over looming US tariffs checked gains.
Benchmark three-month copper on the London Metals Exchange (LME) was up 0.7% to $9,925 a metric ton, as of 0352 GMT.
The dollar drifted just below a three-week high versus major peers, as traders cautiously awaited clarity on US President Donald Trump’s next round of tariffs.
A weaker US currency makes dollar-priced metals cheaper for buyers using other currencies.
The next round of tariffs is due on April 2, when the White House will announce reciprocal levies on many countries.
Copper rallies to one-month peak on signs of improving demand
“Expectations are rising that President Trump’s broad retaliatory tariffs due to come into effect on April 2 will hurt global economic growth,” ANZ Research said in a note.
“We don’t expect global growth to lurch lower, but it is likely to be softer. We expect the slowdown to be led by the US and parts of Asia.”
Among other metals, LME aluminium rose 0.2% to $2,627 a ton, lead was up 1.5% at $2,046, zinc gained 0.4% to $2,941, tin advanced 0.6% to $34,695, and nickel climbed 0.5% to $16,140 a ton.
SHFE copper was up 0.1% to 81,220 yuan ($11,189.02) a ton, SHFE aluminium eased 0.5% to 20,700 yuan a ton, zinc rose 1.6% to 24,180 yuan, and lead was up 1.14% at 17,670 yuan.
Nickel, however, lost 0.05% to 129,740 yuan and tin eased 0.7% to 276,970 yuan.
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