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METALS-LME copper hits over one-week high on softer dollar, easing trade war fears

ReutersApr 14, 2025 3:01 AM

- Copper prices in London rose to a more than one-week high on Monday, as a softer dollar and easing fears of a trade war between the United States and top metals consumer China, boosted market sentiment.

Benchmark three-month copper CMCU3 on the London Metal Exchange (LME) was up 0.5% at $9,199 a metric ton, as of 0213 GMT.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 rose 1.9% to 76,190 yuan ($10,434.84) per ton.

The dollar index .DXY fell 0.6% against its rivals. A softer dollar makes greenback-priced commodities cheaper for buyers using other currencies.

The White House announced the exclusions from steep reciprocal tariffs on Friday. However, U.S. President Donald Trump bore down on Sunday on his administration's latest message that the exclusion of smartphones and computers from his reciprocal tariffs on China will be short-lived.

Last week, Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against Trump's decision to hike duties on Chinese goods effectively to 145%.

Premier Li Qiang according to state media last week said that China needs to implement more proactive macroeconomic policies and roll them out in a timely manner as "external shocks" have put pressures to China's economic stabilisation.

Investors are eagerly awaiting additional stimulus measures from China to mitigate the impact of Trump's tariffs.

SHFE aluminium SAFcv1 added 0.5% to 19,715 yuan a ton, zinc SZNcv1 added 0.4% to 22,440 yuan, lead SPBcv1 gained 0.7% to 16,895 yuan, nickel SNIcv1 was up 1.6% at 122,860 yuan, tin SSNcv1 advanced 2.6% to 260,640 yuan.

LME aluminium CMAL3 gained 0.5% to $2,407.5 a ton, lead CMPB3 rose 0.2% to $1,917.5, tin CMSN3 was up 1.7% at $31,750, zinc CMZN3 rose 0.2% to $2,657 and nickel CMNI3 rose 0.7% to $15,170 a ton.

($1 = 7.3015 Chinese yuan renminbi)

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