METALS-Copper prices little changed as traders weigh US CPI, tariff imapct

By Hongmei Li

SINGAPORE, July 16 (Reuters) - Copper prices in London and Shanghai were largely unchanged on Wednesday as traders assessed a mix of macro signals, including U.S. inflation data and new tariff announcements, while assessing China's first-half economic data.

Three-month copper on the London Metal Exchange CMCU3 eased 0.06% to $9,640 per metric ton by 0701 GMT, while the most-traded copper contract on the Shanghai Futures Exchange SCFcv1 added 0.06% to 77,980 yuan ($10,865.11) a ton.

"Not much news today that will move the market," a Beijing-based metals trader at a futures company said.

"China's first-half economic data is also out," the trader said, adding "there's nothing to worry about other than the persistently sluggish property market."

China's economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.

Meanwhile, U.S. consumer prices rose 0.3% in June, the largest increase in five months.

The uptick, driven by higher costs for some goods, suggests that tariffs are starting to impact inflation, potentially prompting the Federal Reserve to hold off on rate cuts until September.

In other tariff-related news, President Donald Trump on Tuesday announced that the U.S. would impose a 19% tariff on goods from Indonesia and revealed details about duties on pharmaceuticals.

This comes after the European Union, one of the top U.S. trading partners, readied retaliatory measures in case talks with Washington failed.

LME nickel CMNI3 gained 0.13% to $15,165 a ton, tin CMSN3 rose 0.22% to $33,385, while lead CMPB3 fell 0.5% to $1,986. Aluminium CMAL3 added 0.08% to $2,582.5 and zinc CMZN3 was almost flat at $2,697.5.

SHFE nickel SNIcv1 added 0.9% to 120,550 yuan per ton, recovering from Tuesday's drop. Aluminium SAFcv1 gained 0.4% to 20,475 yuan and tin SSNcv1 rose 0.1% to 263,960 yuan. Lead SPBcv1 eased 0.68% at 16,895 yuan and zinc SZNcv1 slipped 0.27% to 22,045 yuan.

($1 = 7.1771 Chinese yuan)

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