Copper metal price on March 26: slight increase

The three-month benchmark copper on the London Metal Exchange (LME) rose 0.3%.

Three-month copper on the London Metal Exchange (LME) rose 0.3% to $9,986 a tonne.

The dollar hit a three-week high against the yen and rose broadly following strong US services data and cautious optimism on the tariff front.

A stronger US dollar makes the greenback-denominated metal more expensive for buyers using other currencies.

Last month, US President Donald Trump ordered an investigation into possible tariffs on copper imports to rebuild US production of a metal vital to electric vehicles, military hardware, the power grid and many consumer goods.

Traders said the move of copper from the LME system to the US can be seen in inventories held by warehouses in the exchange's network around the world .

Inventories in LME warehouses have fallen 18% over the past four weeks, with cancellations or metal designated for delivery accounting for 50% of the total, suggesting another 111,000 tonnes will leave LME warehouses.

“Markets are likely to be watching nervously for any developments on copper tariffs in the coming weeks as refined metal heads to the US,” said Benchmark Mineral Intelligence. “The quarterly China Metallurgical Purchasing Group (CSPT) meeting will also be closely watched, particularly with regard to the Q2 purchasing floor and any potential for coordinated production cuts.”

LME aluminium rose 0.1% to $2,618 a tonne, lead rose 0.7% to $2,050.50, zinc rose 0.3% to $2,955, tin rose 0.3% to $34,460 and nickel rose 0.3% to $16,055 a tonne.

SHFE copper rose 1.2% to 81,910 yuan/t ($11,281.59/t), SHFE aluminum rose 0.02% to 20,705 yuan/t, zinc rose 0.3% to 24,125 yuan, lead fell 0.1% to 17,560 yuan, nickel fell 0.2% to 129,220 yuan and tin fell 0.5% to 274,870 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-26-3-tang-nhe.html