METALS-London copper hovers near two-week low on trade war concerns

SHANGHAI, March 31 (Reuters) - Copper prices in London hovered near a two-week low on Monday on heightened concerns about a global trade war, as U.S. President Donald Trump's reciprocal tariffs loomed.

The benchmark three-month copper CMCU3 on the London Metals Exchange (LME) lost 0.3% to $9,765 per metric ton as of 0731 GMT. Earlier in the session, prices hit $9,736 - the lowest level since March 13.

Trump announced on Sunday that the reciprocal tariffs he plans to introduce this week will apply to all nations.

"High uncertainties surrounding Trump's tariffs have worried investors. If Trump imposes tariffs on copper earlier, some arbitrage traders may face losses if their shipments can't reach the U.S. before the tariffs are enforced," a base metals trader said.

Meanwhile, tin prices SSNcv1 on the Shanghai Futures Exchange bucked the downward trend, rising 0.4% to 282,350 yuan ($38,938.92), due to fears of supply disruptions from an earthquake in tin-rich Myanmar last Friday.

Among other metals, LME aluminium CMAL3 fell 0.3% to $2,541 a ton, lead CMPB3 eased 0.1% to $2,024, zinc shed 0.6% to $2,838, tin CMSN3 lost 1.1% to $35,815 and nickel CMNI3 was down 1.6% to $16,120 a ton.

SHFE copper SCFcv1 slid 0.9% to 79,950 yuan a ton, SHFE aluminium SAFcv1 fell 0.6% to 20,480 yuan a ton, zinc SZNcv1 dropped 1.6% to 23,455 yuan, lead SPBcv1 lost 0.3% to 17,445 yuan, nickel SNIcv1 lost 1.3% to 129,220 yuan.

($1 = 7.2511 Chinese yuan renminbi)

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