Copper metal price on February 14: continued to increase slightly

Copper prices on the London Metal Exchange edged up 0.2%.

Three-month aluminium futures on the London Metal Exchange (LME) fell 0.2% to $2,616 a tonne, while copper edged up 0.2% to $9,475.50.

Copper has so far been spared any US decisions, but when US President Donald Trump promised to impose tariffs on the metal at the end of January, the premium for US Comex copper futures over LME contracts jumped to a record high earlier this week.

This week's announcement of 25% steel and aluminum tariffs is an extension of Trump's previous 2018 Section 232 tariffs intended to protect domestic steel and aluminum producers on national security grounds.

“This suggests that the recent volatility in the Comex-LME copper spread … is likely to be overdone, although prices remain vulnerable to general or country-specific tariffs, which would impact a large portion of imports,” Marcus Garvey, head of commodity strategy at Macquarie, said in a note.

Last week, the US postponed a 25% tariff on goods from Mexico and Canada until March to negotiate steps to secure the US border and stem the flow of fentanyl.

LME zinc prices fell 0.2% to $2,857.50 a tonne, lead prices rose 0.7% to $1,987 and tin prices rose 0.5% to $31,640.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-14-2-tiep-tuc-tang-nhe.html