SHANGHAI- Most base metals fell on Wednesday as uncertainty persisted over US President Donald Trump’s plans for tariffs.
Trump said late on Tuesday that his administration was discussing imposing a 10 percent tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada would face levies of around 25 percent. He also vowed duties on European imports without providing further details.
“Investors are grappling with the unpredictability of President Trump’s tariff policies. The looming threat of a retaliatory trade war could significantly undermine market sentiment,” a trader said.
Three-month copper on the London Metal Exchange (LME) slid 0.4 percent to $9,251 a metric ton.
The most-active copper contract on the SHFE was unchanged at 75,570 yuan ($10,383.20) a ton by the end of Asia morning trade session.
The dollar drifted slightly lower in indecisive trading. The greenback index was last at 108.07, down 0.1 percent from Tuesday, and slightly below the 26-month high of 110.17 touched last week.
A weaker dollar makes greenback-priced commodities cheaper for holders of other currencies.
LME aluminum eased 0.2 percent to $2,641, tin gained 0.2 percent to $30,280, nickel fell 0.7 percent to $15,960, lead shed 0.2 percent to $1,968 and zinc was down 0.2 percent to $2,914.
