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- LME Aluminum 3M Select trades $-12.25 lower to $3090.50 at 8:10:42 AM
- LME Copper 3M Select trades $-53.25 lower to $12910 at 8:10:42 AM
- (Bloomberg) – Copper steadied as traders weighed uncertainty around US tariff policy and its potential impact on key trading partners including China. Futures were little changed below $13,000 a ton on the London Metal Exchange, after a narrow gain last week. The US Supreme Court last week ruled against President Donald Trump’s use of emergency powers to set reciprocal trade duties, prompting the administration to roll out an alternative 10% global levy, which was then raised to 15%. The shift may lower the average tariff on Chinese goods to 24% from 32%, according to Morgan Stanley. Still, while that may aid metal-intensive exporters there, the relief could be temporary as trade policy may shift further. Investors are waiting for the return of Chinese traders after the Lunar New Year break, with markets to reopen on Tuesday. Higher copper prices can weigh on physical demand in the world’s top consumer, causing inventories to build.
- CME HRC Steel last traded at $983 and $2 higher at 5:11:28 AM
Price Indications
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