METALS-London copper slips on global economic uncertainty; market awaits China stimulus
April 15 (Reuters) - London copper prices fell on Wednesday on persistent global economic uncertainty triggered by U.S. President Donald Trump's erratic tariffs, while investors awaited more stimulus from top metals consumer China to revive its sluggish economy.
The benchmark three-month copper CMCU3 on the London Metal Exchange (LME) eased 0.1% to $9,154 a metric ton as of 0138 GMT.
The most-traded copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 fell 0.1% to 76,000 yuan ($10,376.70) per ton.
China has ordered its airlines not to take any further deliveries of Boeing BA.N jets in response to the U.S. imposing 145% tariffs on Chinese imports, Bloomberg News reported on Tuesday, citing people familiar with the matter.
"Base metals, including copper, drifted aimlessly as traders assess Trump's latest tariff moves," said Daniel Hynes, a senior commodity strategist at ANZ Bank.
China's economy is estimated to have slowed in the first quarter in the face of a prolonged property downturn as policymakers brace for the impact of the hefty U.S. tariffs that analysts say pose the biggest risk to the country in decades.
The market focus will be on whether China announces more stimulus measures to boost its economy as the tariff war with the U.S. escalates and worries persist in its property sector.
Meanwhile, Nvidia NVDA.O on Tuesday said it would take $5.5 billion in charges after the U.S. government limited exports of its H20 artificial intelligence chip to China , a key market for one of its most popular chips.
LME aluminium CMAL3 lost 0.1% to $2,373.5 a ton, lead CMPB3 fell 0.5% at $1,905, nickel CMNI3 eased 0.5% to $15,475 a ton, zinc CMZN3 was steady at $2,614.5, while tin CMSN3 rose 0.5% at $31,200.
SHFE aluminium SAFcv1 added 0.1% to 19,635 yuan a ton, zinc SZNcv1 lost 0.4% to 22,260 yuan, lead SPBcv1 retreated 0.3% to 16,755 yuan, tin SSNcv1 fell 0.2% to 259,020 yuan and nickel SNIcv1 gained 0.9% to 124,700 yuan.
($1 = 7.3241 Chinese yuan)
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