(Updates prices for Asia market close)
SHANGHAI, April 1 (Reuters) - London copper prices rose
on Tuesday, rebounding from a two-week low hit in the previous
day, as positive Chinese economic data outweighed concerns about
a potential global trade war triggered by impending reciprocal
tariffs by U.S. President Donald Trump.
The Caixin/S&P Global manufacturing PMI climbed to 51.2 in
March from 50.8 in February, driven by increased demand and
strong export orders, reflecting growth in manufacturing despite
potential threats from the escalating U.S. trade war.
The benchmark three-month copper on the London Metal
Exchange (LME) had risen 0.7% to $9,781.5 per metric ton as of
0711 GMT, rebounding from Monday's two-week low.
Trump said on Sunday that the reciprocal tariffs he plans to
introduce this week will apply to all nations.
"Everyone is closely watching what President Trump is set to
announce tomorrow. This has led to a risk-off sentiment due to
the looming uncertainties," a base metals trader said.
Copper prices also found support from a shortage of copper
concentrate, which has resulted in negative copper concentrate
processing treatment and refining charges (TC/RCs).
TC/RCs, a key source of revenue for smelters, are a gauge of
availability for copper concentrates. Lower TC/RCs imply tight
supply.
Shanghai Metals Market copper concentrates TC/RC index was
-$24.14 per ton and -2.41 cents per pound on March 28.
Meanwhile, tin on the Shanghai Futures Exchange was
the outperformer, rising by 0.5% to 287,480 yuan ($39,555.30),
due to fears of supply disruptions from an earthquake in
tin-rich Myanmar last Friday.
Among other metals, LME aluminium added 0.4% to
$2,543 a ton, lead gained 0.1% to $2,013, zinc rose 0.4%
to $2,863, tin lost 0.3% to $36,550 and nickel
was up 1.7% to $16,195 a ton.
SHFE copper gained 0.1% to 80,430 yuan a ton, SHFE
aluminium was flat at 20,525 yuan a ton, zinc
added 0.4% to 23,615 yuan, lead was flat at 17,410
yuan, nickel lost 0.1% to 130,360 yuan.
($1 = 7.2678 Chinese yuan renminbi)