NEW DELHI: Copper prices in London hit a nearly two-week low on Friday, as unease over looming US tariffs weighed on sentiment.
The benchmark three-month copper on the London Metals Exchange (LME) eased 0.4% to $9,804 per metric ton, as of 0345 GMT.
It had briefly fallen to $9,800, its lowest since March 17.
For the week, prices were down 0.5%. Last month, US President Donald Trump ordered a probe into potential tariffs on copper imports to rebuild US production of the metal.
Markets are on edge about Trump’s pledge to announce sweeping new tariffs next week. He already said 25% levies on imported cars would take effect on April 3.
“We also believe that higher US tariffs and a more general move away from global trade will damage world economic prospects, helping to undermine base metals demand in the year ahead,” said Dan Smith, head of research at Amalgamated Metal Trading.
Copper rallies to one-month peak on signs of improving demand
Among other metals, LME aluminium was down 0.5% to $2,550 a ton, lead eased 0.2% to $2,037.5, zinc inched 0.4% lower to $2,887.5, tin declined 0.6% to $35,050, while nickel gained 0.1% to $16,265 a ton.
SHFE copper slid 1.4% to 80,430 yuan ($11,071.34) a ton, SHFE aluminium fell 0.96% to 20,580 yuan a ton, zinc dropped 1.58% to 23,735 yuan, lead eased 0.96% to 17,450 yuan, nickel gained 0.2% to 130,480 yuan and tin was down 0.2% to 279,410 yuan.
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