METALS-London copper set for weekly losses as dollar firms on Trump tariffs

NEW DELHI, Feb 28 (Reuters) - London copper prices eased on Friday, and were on track to post weekly losses, as the dollar firmed on U.S. President Donald Trump's imminent tariff plans.

Three-month copper on the London Metal Exchange (LME) CMCU3 edged lower 0.1% to $9,377 a metric ton as of 0221 GMT, and was down 1.9% on week.

The dollar drew safe-haven support on the day ahead of Trump's impending tariffs, making greenback-priced commodities more expensive for holders of other currencies. USD/

On Thursday, Trump said that his proposed tariffs on Mexico and Canada will go into effect March 4 as scheduled as drugs are still pouring into the U.S. from those countries.

China will be charged an additional 10% on that day, he added.

"Although short-term upward pressures on metal prices are likely in response to Trump-led trade policy shifts, the longer-term outlook remains bearish, as tariffs are expected to weigh on the market, pushing up the U.S. dollar and posing headwinds to metals..." said BMI, a Fitch Solutions unit.

Among other metals, LME aluminium CMAL3 rose 0.08% to $2,634.5, tin CMSN3 gained 0.2% to $31,750, LME zinc CMZN3 eased 0.2% at $2,804.5, nickel CMNI3 fell 0.6% at $15,740 and lead CMPB3 lost 0.2% to $2,004.

SHFE aluminium SAFcv1 advanced 0.3% to 20,630 yuan ($2,830.18) a ton, SHFE copper SCFcv1 shed 0.04% to 77,000 yuan, zinc SZNcv1 slid 0.2% to 23,475 yuan, nickel SNIcv1 gained 1.2% to 126,690 yuan, lead SPBcv1 was unchanged at 17,165 yuan and tin SSNcv1 dropped 0.5% to 256,040 yuan.

($1 = 7.2893 Chinese yuan)

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