surged due to tariff concerns.

May copper futures on the US Comex exchange rose 4.9%.

The most actively traded May copper futures contract on the US Comex exchange rose 4.9% to $4.781 per pound, its highest price since February 14.

US futures outperformed three-month copper on the London Metal Exchange, rising 2.2% to $9,549 per ton in open trading after hitting $9,564, its highest price since February 21.

Ole Hansen, head of commodity strategy at Saxo Bank, said: "The New York futures market is now completely decoupled from the global market."

The Comex premium against the LME was last at $1,005/tonne compared to $737 the day before. Prices peaked at $1,153 on February 13th.

US President Donald Trump's new 25% tariffs on most imports from Mexico and Canada took effect on Tuesday, along with a doubling of tariffs on Chinese goods to 20%. On March 12th, Trump's 25% import tariffs on aluminum and steel were also scheduled to take effect.

In February, Trump also ordered an investigation into copper import tariffs. Although such investigations typically take several months, the market has been trying to guess the final tariff figures.

The LME copper contract is on track for its biggest daily gain in four months, also because China, the world's top metal consumer, has unlocked further fiscal stimulus measures and German political parties have proposed establishing a €500 billion ($529 billion) infrastructure fund.

The US dollar continues to support metals used in the electrical and construction industries, having fallen against other currencies, and daily LME data shows that copper inventories at LME-registered warehouses continue to decline.

LME-ordered copper inventories fell to 148,300 tonnes, the lowest level since June 14, following net cancellations of 10,275 tonnes in Asia. Current inventories have decreased by 43% in the past two weeks.

Meanwhile, LME aluminum rose 0.9% to $2,640 a ton in official trading, zinc increased 1.6% to $2,856, tin gained 0.8% to $31,825, lead advanced 0.1% to $2,012, and nickel declined 0.2% to $15,950.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-6-3-tang-manh-do-lo-ngai-thue-quan.html