no change in trading session

Copper was little changed at $9,465.50 a tonne on the London Metal Exchange (LME) while aluminium rose 0.4% and zinc fell 0.3%.

The metal has gained more than 8% this year as physical markets recovered, while the LMEX index tracking six major contracts on the LME closed at a three-month high on Tuesday.

Copper could hold its current level of around $9,400 a tonne until early April, after which the imposition of US tariffs could see prices fall to $8,500 within three months, Citigroup analysts said in a note.

According to responses from businesses, the direct impact of Trump’s tariff policy is negligible at this stage. However, downstream market sentiment for purchasing activities has been restrained by high copper prices.

Before the Lunar New Year, the market was generally pessimistic about the future. However, after the holiday, copper prices continued to fluctuate at high levels. This trend has reduced the purchasing desire of downstream enterprises and restrained market demand. Some copper enterprises reported that recent order volumes showed mediocre performance, with significant market pressure.

Analysts say the spread between Comex and LME copper could widen to $1,400 a tonne, from more than $800 currently, as tariffs make the metal more valuable in the US.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-20-2-khong-thay-doi-nhieu-trong-phien-giao-dich.html