London copper pressured by stronger dollar, tariff concerns
NEW DELHI, Feb 25 (Reuters) - London copper edged lower on Tuesday, pressured by a stronger dollar and concerns over metal demand after U.S. President Donald Trump reiterated his tariff plans.
Three-month copper on the London Metal Exchange (LME) CMCU3 was down 0.6% at $9,440.5 a metric ton, as of 0708 GMT.
The dollar edged higher after falling to its lowest in more than two months at the start of the week, buoyed by safe-haven flows after Trump said tariffs on Mexico and Canada would proceed as planned. USD/
A stronger dollar makes commodities priced in the U.S. currency more expensive for buyers using other currencies.
Trump said tariffs on Canadian and Mexican imports are "on time and on schedule," despite the efforts by both countries to strengthen border security and curb the flow of fentanyl into the U.S. ahead of the March 4 deadline.
"Looking ahead, markets will continue to navigate an increasingly complex geopolitical and macroeconomic landscape," Benchmark Mineral Intelligence said in a note.
"Separately, the markets will closely monitor any developments ahead of the implementation of 25% tariffs on Canada and Mexico from March 5. Meanwhile, China's Two Sessions policymakers' meeting are set to kick off next week, which could shine a light on China's stimulus policy pathway and response to Trump's trade policy."
Among other metals, LME aluminium CMAL3 dropped 0.7% to $2,638, LME zinc CMZN3 shed 0.7% at $2,829.5, nickel CMNI3 lost 0.4% to $15,380, tin CMSN3 fell 0.7% to $33,015 and lead CMPB3 eased 0.1% to $1,986.
SHFE aluminium SAFcv1 fell 0.99% to 20,530 yuan a ton, SHFE copper SCFcv1 eased 0.6% to 76,810 yuan, zinc SZNcv1 slid 1.8% to 23,595 yuan, nickel SNIcv1 dipped 0.8% to 124,350 yuan, lead SPBcv1 gained 0.09% to 17,125 yuan, while tin SSNcv1 eased 0.9% to 263,300 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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