NEW DELHI- London copper edged lower on Monday amid uncertainties around US tariff policies, although some weakness in the dollar limited the downside.
Three-month copper on the London Metal Exchange (LME) eased 0.3 percent to $9,588 a metric ton.
The most-active copper contract on the Shanghai Futures Exchange fell 0.5 percent to 78,290 yuan ($10,797.73) a ton.
US President Donald Trump in a Fox News interview on Sunday declined to predict whether the US could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China over fentanyl.
The Trump trade policies have raised trade war fears that could slam economic growth and raise prices for Americans still smarting from years of high inflation.
“Dramatic shifts in US trade and foreign policy are likely to cause further disruption to metal markets,” ANZ Research said.
“President Trump has placed a 25 percent tariff on US aluminum and steel imports. A levy on copper is also on the cards. The short-term impact will be a rise in premiums as the US struggles to adjust to the dislocation in physical markets.”
Meanwhile, the dollar began the day weak after significant losses last week due to a potentially weakening US labor market, while concerns over a global trade war led investors to safe havens, lifting the yen and the Swiss franc.
