Copper metal price on March 28: slight increase

Three-month copper on the London Metal Exchange (LME) rose 0.1%.

Benchmark three-month copper on the London Metal Exchange (LME) rose 0.1% to $9,941 a tonne. In the latest session, prices hit $10,164.50 a tonne, the highest since June 7.

Traders pushed copper prices higher after US President Donald Trump ordered an investigation into potential tariffs on copper imports to rebuild US production of the metal.

"President Trump's announcement has led to pre-buying and the market is trying to price in the tariffs; there have been a lot of flows into the US market. Once there is clarity on tariffs, this will subside as demand from the US will fall and that will impact prices," said ANZ commodities analyst Soni Kumari.

Citi Research forecasts that the 25% US copper import tariff will be applied in the second quarter of this year and lowered its three-month price outlook to $9,500 a tonne, down from $10,000, the brokerage said in a note.

On Wednesday, US President Donald Trump announced a 25% tariff on imported cars and light trucks starting next week, escalating the global trade war. The dollar index, which measures the US currency against six rivals, fell.

A weaker dollar makes greenback-priced items cheaper for buyers using other currencies.

Among other metals, LME aluminium rose 0.3% to $2,613.50 a tonne, lead fell 0.6% to $2,078.50 a tonne, zinc fell 0.4% to $2,945 a tonne, tin rose 0.4% to $35,195 a tonne and nickel fell 0.3% to $16,190 a tonne.

Shanghai Futures Exchange (SHFE) copper fell 1.03% to 81,560 yuan ($11,229.21) a tonne, SHFE aluminium rose 0.6% to 20,815 yuan a tonne, zinc fell 0.3% to 24,105 yuan a tonne, lead rose 0.2% to 17,615 yuan a tonne, nickel fell 0.05% to 130,030 yuan a tonne and tin rose 0.8% to 281,010 yuan a tonne.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-28-3-tang-nhe.html