Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Base metals gain after US court puts brakes on Trump tariffs
    Commodities

    Base metals gain after US court puts brakes on Trump tariffs

    May 29, 20252 Mins Read


    Base metal prices gained on Thursday, lifted by market optimism after a federal court halted President Donald Trump’s move to impose sweeping tariffs on imports from most of the United States’ trading partners.

    The Court of International Trade blocked most of Trump’s tariffs in a broad ruling on Wednesday that found the president had overstepped his authority by imposing across-the-board duties on imports.

    The Trump administration minutes later filed a notice of appeal and questioned the authority of the court.

    ING commodities analyst Ewa Manthey said base metals gained because the court ruling boosted risk appetite, though markets were likely to remain volatile as the administration fights the decision.

    Three-month copper on the London Metal Exchange was up 0.4% to $9,603.5 per metric ton, by 1000 GMT.

    LME copper has rebounded nearly 19% since touching a 17-month low of $8,105 in April after Trump imposed his so-called reciprocal tariffs.

    Among other metals, LME aluminium gained 0.4% to $2,477.5 a ton, zinc rose 1% to $2,711.5, lead was flat at $1,982 and nickel gained 2.3% to $15,340. Tin was up 0.1% to $31,650.

    Gains were capped by a firmer U.S. dollar, which rose against major currencies, making dollar-priced metals more expensive for holders of other currencies.

    Discussing the outlook for copper, Manthey noted that downside risks include prolonged trade negotiations and reduced policy stimulus from China. On the upside, prices could benefit from possible cuts in refined copper production amid ongoing tightness in concentrates, he said.

    Meanwhile, Chile’s state copper commission Cochilco raised its average copper price forecast for this year and next, citing an improved global outlook following a pause in the tariff war between the United States and China.

    Market attention also remained fixed on Washington’s ongoing investigation into potential copper import tariffs, which has kept the COMEX copper premium over the LME benchmark elevated and spurred a surge of metal inflows into COMEX-owned warehouses .

    U.S. Comex copper futures rose 0.9% to $4.75 a lb., bringing the premium of Comex over LME to $858 a ton.

    (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Joe Bavier)



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Egypt’s agricultural exports surpass 4.8mln tons in 5 months

    Commodities

    Bihar has tremendous potential for agricultural development: Shivraj Singh Chouhan | India News

    Commodities

    Un groupe de métal indonésien portant le hijab se produit au Japon

    Commodities

    Un BBQ et du death métal

    Commodities

    China Carbon Neutral en pourparlers pour acquérir une société de biotechnologie

    Commodities

    SICO signs a Letter of Intent with The Arab Authority for Agricultural Investment and Development

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Precious Metal

    Daniel Roth Unveils Exquisite Tourbillon Rose Gold

    Property

    Public Property Invest acquiert une propriété norvégienne pour un montant de 131 millions de couronnes norvégiennes -Le 27 janvier 2025 à 16:31

    Stock Market

    3 Swedish Dividend Stocks Yielding Up To 5.5%

    Editors Picks

    Silver price back above $33 as it rides gold’s momentum

    May 21, 2025

    Four Corners Property Trust acquiert un restaurant Chuy’s au Texas pour 2,9 millions de dollars

    April 21, 2025

    PublicSquare envisage une stratégie de trésorerie en actifs numériques dans le cadre de ses initiatives FinTech

    May 27, 2025

    This expert believes silver may be ready for a catch-up rally, recommends tactical allocation via ETFs

    May 14, 2025
    What's Hot

    Cryptocurrency prices fall, but assets don’t! Staking Crypto makes your cryptocurrencies continue to grow!

    March 4, 2025

    Samuel Sarr conteste sa détention dans l’affaire West African Energy

    February 24, 2025

    Le fonds immobilier Lannebo a progressé de 3,7 % en avril, grâce à la hausse des titres Sagax, Public Property Invest et Balder.

    May 12, 2025
    Our Picks

    The Commodities Feed: Israel responds, oil sells off | articles

    October 28, 2024

    « Il faut planter dès maintenant de nouvelles cultures et prendre des risques »

    April 18, 2025

    House Lawmakers Raise Alarm About US Biopharma Companies Working With Chinese Military on Trials

    August 21, 2024
    Weekly Top

    Un groupe de métal indonésien portant le hijab se produit au Japon

    June 2, 2025

    Orange solde son aventure bancaire en cédant Anytime

    June 2, 2025

    How crypto gambling is changing Manchester’s entertainment landscape

    June 2, 2025
    Editor's Pick

    Bitcoin, Ethereum, Dogecoin Slide Further: ‘I Wonder If Someone Knows Something,’ Trader Wonders

    August 27, 2024

    Amstel Gold Race 2025 – Vigilance de mise une semaine après le jet de bidon ayant visé Mathieu Van der Poel à Roubaix

    April 19, 2025

    Currency Exchange Bureau Software Market: Driving Digital Transformation in Forex Services

    March 28, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.