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METALS-London copper edges higher; subdued dollar lends support
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METALS-London copper edges higher; subdued dollar lends support
Mar 27, 2025 12:40 AM

(Updates prices after Asia market close, adds details in

paragraph 6)

NEW DELHI, March 27 (Reuters) - Copper prices in London

edged up on Thursday, with markets tracking inflows of the

industrial metal to the U.S. as demand rose ahead of potential

tariffs, and a downward move in the dollar index further lent

support.

The benchmark three-month copper on the London

Metals Exchange (LME) added 0.1% to $9,941 a metric ton as of

0707 GMT. In the last session, prices hit $10,164.5 a ton, the

highest since June 7.

Traders have been bidding up copper prices after U.S.

President Donald Trump ordered a probe into potential tariffs on

copper imports to rebuild U.S. production of the metal.

"Trump's announcement has led to frontloading and (the)

market is trying to price in tariffs; there have been (a) lot of

inflows in the U.S. market," said ANZ Commodity Strategist Soni

Kumari.

"Once there is clarity around tariffs, this will subside as

demand from (the) U.S. will soften and that will weigh on

prices."

Citi Research forecast that a 25% U.S. copper import tariff

would be imposed in the second quarter of this year and lowered

its three-month price outlook to $9,500 per ton, down from

$10,000, the brokerage said in a note.

On Wednesday, Trump unveiled a 25% tariff on imported cars

and light trucks starting next week, widening the global trade

war.

The dollar index, which measures the U.S. currency

against six rivals, drifted lower.

A softer dollar makes greenback-priced commodities cheaper

for buyers using other currencies.

Among other metals, LME aluminium added 0.3% to

$2,613.5 a ton, lead fell 0.6% to $2,078.5, zinc dipped

0.4% to $2,945, tin advanced 0.4% to $35,195 and nickel

eased 0.3% to $16,190 a ton.

SHFE copper slid 1.03% to 81,560 yuan ($11,229.21)

a ton, SHFE aluminium gained 0.6% to 20,815 yuan a ton,

zinc dropped 0.3% to 24,105 yuan, lead

advanced 0.2% to 17,615 yuan, nickel was down 0.05% to

130,030 yuan and tin rose 0.8% to 281,010 yuan.

($1 = 7.2632 Chinese yuan)

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