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METALS-London copper edges lower as US tariff concerns loom

ReutersFeb 24, 2025 7:14 AM

Updates prices, adds dollar moves in paragraphs 5-6

- London copper eased on Monday as nervousness crept into metal demand after U.S. President Donald Trump's recent threats to raise tariffs, although a weaker dollar capped the losses.

Three-month copper on the London Metal Exchange (LME) CMCU3 fell 0.4% to $9,517 a metric ton by 0707 GMT.

"The sector is also seeing dislocation as it prepares for tariffs and sanctions on certain metals," ANZ Research said.

Last week, Trump said he will announce fresh tariffs over the next month or sooner, adding lumber and forest products to previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals.

However, the dollar tumbled to its weakest in more than two months on mounting worries over the growth outlook for the U.S. economy. USD/

Against a basket of currencies, the dollar =USD fell to a more than two-month low of 106.12.

A softer dollar makes greenback-priced metals more attractive for holders of other currencies.

Among other metals, LME aluminium CMAL3 dropped 0.7% to $2,669, LME zinc CMZN3 shed 0.6% at $2,912, nickel CMNI3 gained 0.8% to $15,635, tin CMSN3 fell 0.9% to $33,380 and lead CMPB3 was up 0.1% to $2,011.

SHFE aluminium SAFcv1 eased 0.9% to 20,690 yuan a ton, SHFE copper SCFcv1 fell 0.3% at 77,140 yuan, zinc SZNcv1 slid 0.4% to 23,990 yuan, nickel SNIcv1 gained 0.3% to 125,460 yuan, lead SPBcv1 was unchanged at 17,160 yuan, while tin SSNcv1 shed 0.4% to 263,730 yuan.

($1 = 7.2498 Chinese yuan)

 For related news and prices, click on the codes in brackets: LME price overview      RING= COMEX copper futures  0#HG: All metals news         MTL   All commodities news      C 
Foreign exchange rates FX=SPEED GUIDES LME/INDEX
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