surge on the Shanghai exchange

Copper futures on the Shanghai Futures Exchange rose 0.4%.

The most-active copper contract on the Shanghai Futures Exchange rose 0.4% to 78,390 yuan ($10,820.47) a tonne, its highest since early October 2024.

US President Donald Trump on Thursday suspended 25% tariffs imposed this week on most goods from Canada and Mexico until April 2, the date he threatened to impose global reciprocal tariffs on all US trading partners.

Trump announced 25% tariffs on aluminum and steel from March 12 and ordered an investigation into possible new tariffs on copper.

The latest announcement on copper imports has made the case for front-loading, which is pushing copper prices higher, said Soni Kumari, commodity strategist at ANZ.

Kumari said there is optimism around China's stimulus measures, which is also supporting the market.

China on Thursday left open the possibility of further stimulus measures beyond those announced at its annual parliamentary meeting this week if economic growth derails.

Market participants expect China's National People's Congress to announce more stimulus measures as the Sino-US trade war heats up.

Meanwhile, China's imports unexpectedly fell in January-February, while exports lost momentum as escalating US tariff pressure cast a shadow over the recovery of the world's second-largest economy.

SHFE aluminum was little changed at 20,830 yuan a tonne, zinc rose 0.3% to 23,980 yuan, nickel rose 1.5% to 129,740 yuan. Lead rose 0.4% to 17,450 yuan and tin rose 2.1% to 262,730 yuan.

In contrast to the Shanghai contract, three-month copper on the London Metal Exchange (LME) fell 1.2% to $9,621.5 a tonne.

LME aluminium fell 0.5% to $2,684 a tonne, zinc fell 1% to $2,899.50, nickel fell 0.6% to $16,205, lead fell 1% to $2,027.50 and tin fell 0.3% to $32,485.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-8-3-tang-manh-tren-san-giao-dich-thuong-hai.html