METALS-London copper rises, caution ahead of US reciprocal tariffs caps gains

SHANGHAI, April 2 (Reuters) - Copper prices in London edged up on Wednesday, but gains were capped as cautious investors awaited details of reciprocal tariffs from U.S. President Donald Trump scheduled later in the day.

The benchmark three-month copper CMCU3 on the London Metal Exchange (LME) rose 0.2% to $9,716 per metric ton, as of 0250 GMT.

Trump said on Sunday his reciprocal tariffs will apply to all nations.

"Currently, we sense a risk-off sentiment due to the looming uncertainties ahead of Trump's reciprocal tariff announcement later today," a base metals trader said.

The Caixin/S&P Global manufacturing PMI released on Tuesday climbed to 51.2 in March, from 50.8 in February, reflecting growth in manufacturing despite potential threats from the escalating U.S. trade war.

Meanwhile, tin SSNcv1 on the Shanghai Futures Exchange was the outperformer, rising 2.5% to 293,710 yuan ($40,404.17), due to fears of supply disruptions from an earthquake in tin-rich Myanmar last Friday.

The earthquake has affected market expectations for the resumption of tin mining in Myanmar, and if the mining area collapsed due to the earthquake, it's likely there won't be a resumption in Wa State this year, Chaos Research said in a note.

Previously, Myanmar's Wa State considered allowing mining to resume in the tin-rich region.

Mines in Wa State produce 70% of the tin from Myanmar, the world's third-largest producer and a dominant supplier to China.

Among other metals, LME aluminium CMAL3 lost 0.3% to $2,499 a ton, lead CMPB3 rose 0.1% to $1,992, zinc slipped 0.1% to $2,819, tin CMSN3 gained 0.2% to $37,570 and nickel CMNI3 advanced 0.2% to $16,065 a ton.

SHFE copper SCFcv1 was flat at 79,930 yuan a ton, SHFE aluminium SAFcv1 slid 0.1% to 20,465 yuan a ton, zinc SZNcv1 lost 1.0% to 23,290 yuan, lead SPBcv1 slid 0.5% to 17,325 yuan, while nickel SNIcv1 rose 0.3% to 129,050 yuan.

($1 = 7.2693 Chinese yuan renminbi)

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