(Updates prices for Asia market close)
SHANGHAI, April 9 (Reuters) - Base metals in China fell
on Wednesday, with copper hitting an eight-month low, as the
current 104% U.S. import tariff on Chinese imports heightened
concerns about slowing growth.
The most-traded copper contract on the Shanghai Futures
Exchange (SHFE) dropped 1.8% to 72,130 yuan ($9,813.87) per
metric ton as of 0703 GMT, hovering near its lowest since August
12, 2024.
The benchmark three-month copper on the London Metal
Exchange (LME) was down 0.4% to $8,640 per metric ton.
U.S. President Donald Trump's 104% import duties on China
took effect earlier in the day, even as the Trump administration
rushed to negotiate with the other trading partners hit by the
sweeping tariff plan.
Last Friday, top metals consumer China hit back with an
additional 34% tariff on all U.S. goods starting April 10 as a
countermeasure to Trump's sweeping tariffs.
"Due to Trump's unpredictable tariffs, copper prices might
decrease further, yet the current price below 75,000 yuan still
encourages some fabricators to procure," a base metals trader
said.
SHFE aluminium slid 2.1% to 19,325 yuan a ton, zinc
lost 2.8% to 21,930 yuan, lead fell 1.4% to
16,410 yuan, nickel eased 0.2% to 118,950 yuan and tin
dropped 5.6% to 254,100 yuan.
Among other metals, LME aluminium lost 1.6% to
$2,309 a ton, zinc shed 1.3% to $2,531, lead
dipped 1.0% to $1,850 and tin slid 1.9% at $31,990.
Nickel added 0.5% to $14,250 a ton.
($1 = 7.3498 Chinese yuan renminbi)