Three-month copper on the London Metal Exchange (LME) rose 1.1% to $9,337 a tonne, after hitting its highest since Nov. 12 at $9,355.50.
In an interview that aired Thursday night, Trump said he did not want to have to impose tariffs on China and that a trade deal with the world's second-largest economy was possible.
Those comments, along with Trump's call for lower interest rates, contributed to a slide in the dollar index, putting it on track for its biggest weekly decline in more than a year.
A weaker dollar makes commodities cheaper for buyers using other currencies.
Copper and other base metals prices may see only limited upside in the short term despite market optimism, said Carsten Menke, an analyst at Julius Baer in Zurich.
“I think it’s a little bit more complicated than that, depending on how quickly the opponents want to give in. Our base case is that the tariffs are not about strengthening the US financial position or about fair trade, but are actually about achieving other goals,” Menke said.
Trade data shows that US companies have been stockpiling goods from China out of concern they could become more expensive due to tariffs, Menke added.
Nickel was the worst-performing LME metal, up 0.1% to $15,680 a tonne after Indonesia eased supply concerns by announcing higher mining quotas for 2025.
Among other metals, LME aluminium rose 0.7% to $2,641.50 a tonne, zinc rose 1% to $2,673.50, lead rose 0.8% to $1,964.50 and tin rose 0.5% to $30,050.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-25-1-dut-da-giam-tang-manh-tro-lai.html
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