SHANGHAI- Metals were mostly trading higher on the London Metals Exchange on Monday, supported by a weaker dollar, although concerns over US tariffs limited the gains.
Benchmark three-month copper on the London Metals Exchange was up 0.3 percent at $9,810 a metric ton.
The dollar hovered close to a five-month low on Monday, pressured by US President Donald Trump’s erratic trade policies.
A softer dollar makes greenback-priced commodities more affordable for buyers using other currencies.
“In summary, with the US dollar index maintaining a low level, copper prices are expected to find support at the bottom today,” information provider Shanghai Metals Market (SMM) said in a note.
US President Donald Trump said on Monday he has no intention of creating exemptions on steel and aluminum tariffs and said reciprocal and sectoral tariffs will be imposed on April 2.
LME aluminum was up 0.4 percent to $2,691 a ton, lead gained 0.7 percent to $2,083.5, zinc lost 0.1 percent to $2,968.5, tin rose 0.5 percent to $35,500 and nickel advanced 1.2 percent to $16,665. —Reuters
