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METALS-London metals rose on Trump's tariff pause
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METALS-London metals rose on Trump's tariff pause
Apr 11, 2025 12:48 AM

(Updates prices for Asia market close)

SHANGHAI, April 11 (Reuters) - Base metals in London

were mostly up on Friday and copper was headed for a weekly

rise, boosted by U.S. President Donald Trump's intention of a

potential agreement with China and the decision to temporarily

lower tariffs for numerous countries.

The benchmark three-month copper on the London Metal

Exchange (LME) was up 0.7% at $9,050 per metric ton, as of 0703

GMT. It has gained 3% from last Friday's closing.

Trump said that he would love to get a deal with China to

end an escalating trade war during a Cabinet meeting opened to

press on Thursday, after he announced a 90-day pause on tariffs

for most countries in a stunning U-turn on Wednesday.

The U.S. president ratcheted up duties on Chinese imports to

an effective 145% rate on Thursday, further escalating a

high-stakes confrontation between the world's two largest

economies.

Meanwhile, Chinese President Xi Jinping will embark on a

three-nation Southeast Asia tour next week to reinforce

relations with other countries who also lie in the shadow of

Washington's damaging trade levies.

"Market uncertainty persists, largely driven by the

unpredictable nature of trade policies and tariffs. As a result,

investors remain cautious, with ongoing concerns about the

potential for a recession due to the ongoing trade tensions," a

base metals trader said.

The most-traded copper contract on the Shanghai Futures

Exchange (SHFE) rose 1.8% to 75,230 yuan ($10,273.95) per metric

ton. It has lost 5% from Thursday's close of 79,190 yuan per

ton. SHFE was closed on April 4 for a holiday.

SHFE aluminium added 0.4% to 19,695 yuan a ton,

zinc added 1.3% to 22,660 yuan, lead gained

1.1% to 16,825 yuan, nickel was up 2% at 121,300 yuan,

tin advanced 3.6% to 257,450 yuan.

LME aluminium gained 0.4% to $2,378 a ton, lead

lost 0.1% to $1,890, tin was up 1% at $30,975,

zinc CMZN3 rose 0.3% to $2,649 and nickel rose 1.0% to

$14,940 a ton.

($1 = 7.3224 Chinese yuan)

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