Copper metal price on March 29: slight decrease

Kinhtedothi - Copper prices on the London exchange edged down and headed for a weekly loss, as worries about upcoming US tariffs weighed on sentiment.

Three-month copper on the London Metal Exchange (LME) fell 0.05%.

Benchmark three-month copper on the London Metal Exchange (LME) fell 0.05 percent to 9,842 yuan a tonne. It had fallen 0.1 percent on the week.

Last month, US President Donald Trump ordered an investigation into the possibility of imposing tariffs on copper imports to rebuild US metal production.

The market is also worried about US President Donald Trump’s pledge to announce comprehensive new tariffs next week. He has said a 25% tariff on imported cars will take effect on April 3.

“We also believe that higher US tariffs and a more general move away from global trade will hurt the global economic outlook, contributing to weaker base metals demand next year,” said Dan Smith, head of research at Amalgamated Metal Trading.

Among other metals, LME aluminium fell 0.2% to $2,557 a tonne, lead rose 0.1% to $2,043, zinc fell 0.02% to $2,899, tin fell 0.2% to $35,210, while nickel rose 0.7% to $16,355 a tonne.

Shanghai Futures Exchange (SHFE) copper futures fell 1.2% to 80,630 yuan ($11,103.46) a tonne, SHFE aluminium fell 1.06% to 20,565 yuan a tonne, zinc fell 1.14% to 23,845 yuan, lead fell 0.8% to 17,480 yuan, nickel rose 0.9% to 131,420 yuan and tin rose 0.2% to 280,720 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-29-3-quay-dau-giam-nhe.html