Copper rose 0.3% to $9,178 a tonne on the London Metal Exchange after rising for two days. Aluminium fell 0.8% while tin rose 1%.
Beijing imposed retaliatory tariffs on a range of U.S. products on Tuesday and announced an investigation into Google, shortly after U.S. President Donald Trump imposed a 10% tariff on Chinese imports. China has imposed export controls on several niche metals — most notably tungsten — in a move to demonstrate its dominance in critical minerals.
Base metals have had a tough start to the year, weighed down by trade war fears as well as concerns about sluggish demand in top consumer China. While a prolonged trade war could slow economic growth in Asia’s largest economy, there is also speculation that Beijing will step up stimulus efforts, which could benefit metals consumption.
The Shanghai Metal Exchange said in a note that it will take some time for Chinese demand to recover after the holiday. And there are concerns about global trade conflicts and economic growth.
In China, zinc led the decline, falling 1.7% to its lowest since September in its first trading session since Jan. 27. Copper fell 0.3% in Shanghai and aluminum was steady.
Copper is the only metal with significant trade between China and the United States. About 40% of US scrap copper exports and 16% of concentrates go to China.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-6-2-tiep-tuc-tang-gia.html
Comment (0)