China metals lost ground on Wednesday as escalating US trade tensions overshadowed data that showed February exports surged at the fastest pace in three years in the world's second largest economy. Shanghai Futures Exchange copper lost 1.3 percent at 52,020 yuan ($8,221) a tonne. China's imports of copper fell 20 percent in February from a month earlier, as a week-long shutdown for Lunar New Year crimped buying in the world's biggest copper consumer. Arrivals were 352,000 tonnes, customs data showed.
"Chinese trade data was published for February and whilst seasonality around ... holidays need to be considered, it was still a very strong export number," Marex Spectron said in a report.
"Unless these metals can generate a bigger move this afternoon, fuelled by genuine demand ... I would expect London to be ready to sell this afternoon."
China will respond as necessary in the event of a trade war with the United States, Foreign Minister Wang Yi said on Thursday, while warning that such a war would only harm all sides.
China's exports unexpectedly surged in February, suggesting its economic growth remains resilient even as trade relations with the United States rapidly deteriorate.
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