On Wednesday, the London copper price remained largely unchanged. Uncertainty about U.S. metal tariffs is limiting price increases

Three-month copper on the London Metal Exchange fell from $2.5 per metric ton to $9,631.5 at 07:01 GMT.

The most traded copper contract on the Shanghai Futures Exchange gained 0.5% to 78,200 yuan ($10,879.85) per ton.

Starting on Wednesday, the United States doubled tariffs on steel and aluminum imports to 50% for all trading partners except Great Britain, the only country whose steel and aluminum exports will be taxed at 25% until at least July 9.

According to ANZ, “copper has found some support despite fears that it will also be subject to US tariffs. The Trump administration is currently examining the impact of U.S. copper imports on the local industry.”

Copper hits its highest level in a month thanks to signs of improving demand

Among other LME metals, tin gained 1.1% to $31,720, aluminum gained 0.8% to $2,483.5 per ton, zinc gained 0.5% to $2,721, zinc gained 0.5% to $2,721, nickel rose 0.5% to $2,721, nickel rose 0.5% to $2,721, nickel rose 0.5% to $15,515, and lead rose slightly by 0.2% to $1,989.

SHFE tin jumped 3.1% to 257,940 yuan, aluminum gained 0.7% to 20,075 yuan per ton, lead added 0.6% to 16,670 yuan, zinc increased 0.6% to 16,670 yuan, zinc increased 0.8% to 16,670 yuan, zinc rose 0.8% to 22,420 yuan, and nickel rose 0.9% to 122,590 yuan.