Copper metal price on February 10: continues to increase

The three-month benchmark on the London Metal Exchange rose 1.6%.

Benchmark three-month copper on the London Metal Exchange rose 1.6% to $9,422 a tonne, hitting its highest since Nov. 8 at $9,507. The contract has gained 4.1% this week.

The most active copper contract on the Shanghai Futures Exchange, which reopened on Wednesday, rose 1.5%. President Donald Trump has delayed imposing 25% tariffs on imports from Canada and Mexico but this week imposed an additional 10% tariff on all Chinese imports.

Beijing retaliated by announcing tariffs of up to 15% on some US imports starting on February 10, creating an opening for potential negotiations. Markets are awaiting a call between President Donald Trump and Chinese President Xi Jinping.

US Comex copper futures rose 2.6% to $4.58 a lb, above the LME price of $659 a tonne, as investors sought to price in the risk of US tariff plans. SHFE data showed copper inventories in warehouses monitored by SHFE rose 81.5% seasonally from the last published level on Jan. 24 to their highest in nearly five months. Zinc inventories rose 81.8%.

The Yangshan copper premium, a closely watched gauge of China's import demand, was last at $68 a tonne, down from a one-year high of $76 hit on Jan. 20. LME aluminium rose 0.4% to $2,630 a tonne, zinc rose 0.9% to $2,843, tin rose 0.5% to $31,165, lead rose 0.3% to $1,994.50, while nickel fell 0.6% to $15,720.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-10-2-tiep-tuc-tang.html