Three-month copper on the London Metal Exchange (LME) rose 0.4% to $9,392 a tonne, after hitting a three-month high of $9,530 on Monday.
“What is clear is that the metals market is tightening at multiple levels, certainly copper supply is not as abundant as it was in 2024,” said Nitesh Shah, commodity strategist at WisdomTree.
Processing fees (TCs), the fees miners pay to smelters to convert raw materials into metals, have fallen, indicating a shortage of raw materials.
The broader metals market also got some support from a media report that Chinese authorities are considering a plan to help real estate giant Vanke fill a funding gap.
The struggling real estate sector in top metals consumer China has weighed on metals markets.
LME aluminium fell 1% to $2,618 a tonne as investors sold long positions or raised prices amid uncertainty over the 25% tariffs on imported steel and aluminium announced by President Donald Trump this week, which take effect on March 12.
LME aluminium hit a three-week high on Monday as the tariffs were announced.
Brokerage Marex said the selling was mainly concentrated in China, with positioning reports showing net long positions on the Shanghai Futures Exchange (SHFE) fell to 9,000 lots from 12,900 lots on Tuesday.
SHFE aluminium fell 0.5% to 20,575 yuan a tonne. Zinc rose 1.8% to $2,871, lead rose 0.6% to $1,991, tin rose 0.9% to $31,435 while nickel fell 0.9% to $15,395.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-13-2-tang-nhe-do-nguon-cung-that-chat.html
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