down from a five-month high

The three-month benchmark currency on the LME fell 0.1%.

The three-month benchmark on the LME fell from a five-month high and declined 0.1% to $9,894.5 per ton.

US President Donald Trump had previously ordered an investigation into potential new tariffs on copper, driving up the premium for copper on the Comex exchange compared to the LME contract, which was at a record high of $1,192 per ton on Tuesday.

One trader said: "President Trump's potential tariffs on copper are something we're watching closely right now, and the Comex premium against the LME continues to rise as the market speculates on a potential 25 percent tariff on copper from President Trump."

Meanwhile, Vladimir Potanin, head of Russia's mining and metals company Nornickel, said he expects updates on a Chinese copper production joint venture in the coming months.

Nornickel is in negotiations to establish a joint venture in China, with potential investments in initial financial plans for the 2025-2026 period.

LME aluminum fell 0.2% to $2,649.5 per ton, lead declined 0.1% to $2,093 per ton, zinc dropped 0.4% to $2,952 per ton, and tin declined 0.1% to $35,190 per ton. Nickel rose 0.5% to $16,325 per ton.

SHFE copper rose 0.4% to 80,660 yuan/tonne, SHFE aluminum fell 0.9% to 20,640 yuan/tonne, zinc fell 0.4% to 23,855 yuan, lead fell 0.1% to 17,615 yuan, and nickel fell 0.2% to 130,520 yuan. Tin rose 0.1% to 280,830 yuan.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-20-3-giam-tu-muc-cao-nhat-trong-5-thang.html