Benchmark three-month copper on the LME eased from a five-month high and was down 0.1% at $9,894.50 a tonne.
US President Donald Trump earlier ordered an investigation into possible new tariffs on copper, boosting the Comex copper premium over the LME contract, which was at a record high of $1,192 a tonne on Tuesday.
“President Trump’s potential tariffs on copper are something we are watching closely now and the Comex copper premium over LME copper continues to rise, as the market speculates on President Trump’s potential 25 percent tariffs on copper,” said a trader.
Meanwhile, the head of Russian mining and metals company Nornickel Vladimir Potanin said he expected updates on a Chinese copper production joint venture in the coming months.
Nornickel is in talks to set up a joint venture in China, with potential investments in initial financing plans for 2025-2026.
LME aluminium fell 0.2% to $2,649.50 a tonne, lead fell 0.1% to $2,093 a tonne, zinc fell 0.4% to $2,952 a tonne and tin fell 0.1% to $35,190 a tonne. Nickel rose 0.5% to $16,325 a tonne.
SHFE copper rose 0.4% to 80,660 yuan/t, SHFE aluminum fell 0.9% to 20,640 yuan/t, zinc fell 0.4% to 23,855 yuan, lead fell 0.1% to 17,615 yuan and nickel fell 0.2% to 130,520 yuan. Tin rose 0.1% to 280,830 yuan.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-20-3-giam-tu-muc-cao-nhat-trong-5-thang.html
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