down on weak trade data

Three-month copper on the London Metal Exchange (LME) fell 1.7%.

Benchmark three-month copper on the London Metal Exchange (LME) fell 1.7% to $9,572 a tonne, while US Comex copper futures fell 2.6% to $4.68 a pound.

LME copper hit a four-month high on Thursday at $9,739 a tonne on a weaker dollar and after US President Donald Trump eased tariffs on Canada and Mexico.

The upbeat sentiment spilled over into Asian trading on the Shanghai futures exchange, where copper hit a five-month high, but pared gains to end the session up 0.3%.

Copper prices, however, rose more than 5% in New York — far more than other global benchmarks — as US President Donald Trump suggested the metal could be hit with a 25% import tariff.

The comments sparked a frenzied rally in copper prices on the Comex division during Asian trading hours as traders reacted to the possibility that the tariffs could be larger than expected and come much sooner.

Last week, Trump announced that the Commerce Department would launch a full investigation that could lead to copper tariffs on national security grounds. That triggered a sharp rally on Comex, widening the gap with equivalent prices in London and Shanghai.

“A 25% tariff was clearly not what the market was expecting before those comments, and now traders are scrambling to price in whatever that tariff might be,” said Ole Hansen, head of commodity strategy at Saxo Bank AS. “The disruption to global trade flows is very real.”

This large gap has sparked a worldwide hunt for copper that can be shipped to the US before any tariffs are imposed, and traders are likely to redouble that effort after Wednesday's rally.

With LME prices hovering around $9,500/tonne and New York prices trading around $1,000 higher, this arbitrage creates a lucrative opportunity for a market accustomed to operating on razor-thin margins.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-10-3-giam-do-du-lieu-thuong-mai-yeu.html