METALS-London copper edges lower as tariff uncertainty lingers

NEW DELHI, May 20 (Reuters) - Copper prices in London were slightly lower on Tuesday amid fading enthusiasm over the 90-day tariff truce between the U.S. and China, the top consumer of the metal.

Benchmark copper CMCU3 on the London Metal Exchange (LME) was down 0.3% at $9,499.5 a metric ton as of 0210 GMT.

The U.S. and China have agreed to reduce tit-for-tat tariffs and implement a 90-day pause on actions, while Washington said it would cut the "de minimis" tariff for low-value shipments from China to 30%.

"Analysts project near-term price support at $9,150/ton, with potential spikes to $10,000/ton if inventory levels breach the 100,000-ton threshold, though risks persist from U.S.-China tariff implementations and smelter profitability crises amid negative treatment charges," consultancy BigMint said.

Separately, The Shanghai Futures Exchange (ShFE) is considering opening its domestic nickel futures contract to foreign investors this year, instead of launching a separate contract on its International Energy Exchange (INE), Reuters has reported.

Among other London metals, aluminium CMAL3 fell 0.6% to $2,435 a ton, zinc CMZN3 was unchanged at $2,676.5, lead CMPB3 gained 0.4% to $1,969 and nickel CMNI3 shed 0.4% to $15,505. Tin CMSN3 added 0.2% to $32,950.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) rose 0.3% to 77,970 yuan ($10,796.03) per ton.

SHFE aluminium SAFcv1 was down 0.5% to 20,070 yuan a ton, zinc SZNcv1 dropped 0.1% to 22,435 yuan, lead SPBcv1 dipped 0.5% to 16,820 yuan, nickel SNIcv1 fell 0.4% to 123,360 yuan, and tin SSNcv1 gained 0.3% to 264,840 yuan.

($1 = 7.2221 yuan)

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