Metal prices in London edge higher, tracking some weakness in the dollar, Access Bank reports

Industrial metals rose as traders evaluated the implications of President Donald Trump’s upcoming “reciprocal tariffs,” set for announcement on April 2, which are expected to be more targeted than earlier threats suggested.

These tariffs reportedly aim to counter countries imposing barriers on United States goods, including allies, though the policy had sparked market volatility due to retaliatory duties from affected nations.

Access Bank group in it’s daily market update indicated that on the London Metal Exchange, copper increased 0.6 percent to US$9,917.50 per tonne.

“Shanghai time, after surpassing US$10,000 late last week, while aluminium rose 0.4 percent, and other metals also advanced,” the report indicated.

The trade disruptions coincide with weakening demand in China, though some see potential benefits from US levies.

Copper advocate Kostas Bintas forecasts a new record high due to tight supply.

Meanwhile, iron ore in Singapore climbed 1.5 percent to US$101.45 per ton after dipping below US$100 on Friday, supported by news from Australian miner Mineral Resources Ltd that haulage at its Onslow project resumed post-accident.

In China, yuan-priced futures on the Dalian exchange and Shanghai steel contracts also saw gains, reflecting a broader uptick in industrial metal prices amid these developments.

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