rise to new highs

Three-month copper on the London Metal Exchange (LME) rose 0.8% to $9,312 a tonne, its highest since January 24.

The most-active copper contract on the Shanghai Futures Exchange rose 1.6% to 76,480 yuan ($10,500.73) a tonne, its highest since Jan. 17.

“We are seeing a relief rally,” said Nitesh Shah, commodity strategist at WisdomTree. “The worst expectations of tariffs coming in immediately have been alleviated, although we still don’t have any clarity.”

US President Donald Trump has delayed imposing 25% tariffs on Canada and Mexico while retaliation by China, the top consumer of metals, to the 10% tariffs imposed by Washington has been relatively muted.

The SHFE reopened on Wednesday after the Lunar New Year holiday and investors are hoping China will roll out more stimulus measures at the National People's Congress meeting in March.

"Investors will be waiting for any signs of a post-holiday demand recovery," said Daniel Hynes, senior commodities strategist at ANZ Bank.

Among other metals, LME aluminium rose 0.7% to $2,633 a tonne, zinc rose 1.6% to $2,825, lead rose 0.3% to $2,008, nickel rose 1.4% to $15,755 and tin rose 1% to $31,100.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-7-2-tang-len-muc-cao-moi.html