NEW DELHI – London copper prices dipped on Thursday, tracking a firmer dollar as uncertainty lingered around US President Donald Trump’s tariff plans.
Three-month copper on the London Metal Exchange (LME) edged 0.5 percent lower to $9,416 a metric ton, after rising 0.2 percent on Wednesday.
The US dollar firmed above an 11-week trough as vague pledges from Trump to impose tariffs on Europe, and further delays to levies planned for Canada and Mexico stoked uncertainty.
A stronger dollar makes commodities priced in the US currency more expensive for buyers using other currencies.
“Looking ahead, March will be a tariff-packed period for the markets, as a hike in aluminum, steel and general “reciprocal” tariffs are all on deck,” said Marex consultant Edward Meir.
“We sense further turbulence as these US tariff increases will almost certainly be matched by America’s trading partners, darkening global growth prospects.”
Among other metals, LME aluminum was down 0.3 percent to $2,624.5, LME zinc eased 0.07 percent at $2,810, nickel was flat at $15,580, lead lost 0.7 percent to $1,997, while tin fell 1.45 percent to $31,935.
SHFE aluminum was down 0.05 percent to 20,600 yuan ($2,834.15) a ton, SHFE copper eased 0.2 percent to 77,030 yuan, zinc slid 0.1 percent to 23,545 yuan, nickel gained 0.6 percent to 124,920 yuan, lead was up 0.3 percent to 17,195 yuan and tin dropped 3.6 percent to 254,140 yuan.
