Copper edges higher as tariff reprieve gives traders some relief

Copper rose 0.4% to settle at $9,187 a ton on the London Metal Exchange at 5:51 p.m. local time. Nickel gained 1.5%, while aluminum slipped.

Copper edged higher after President Donald Trump handed out exemptions to his punishing tariffs on some products, nudging up sentiment across financial markets.

The US leader paused import levies on a suite of consumer electronics including smartphones to memory chips late on Friday. That provided temporary respite for markets after Trump’s trade policies sowed deep uncertainty. Still, by Sunday he was pledging to apply different, specific tariffs to phones, computers and popular consumer electronics.

The Bloomberg Dollar Spot Index edged lower on Monday, retreating for a fifth straight session as some traders remained skeptical about the tariff exemptions. Concern the levies will trigger a global recession have spurred losses across commodities during the past month.

China-led buying has helped to shore up sentiment on copper even as worries about a deepening trade war continue to swirl. The country’s March trade data released Monday showed that metals exporters front-loaded shipments in anticipation of worsening trade frictions in the last full month before the US tariffs make an impact.

Copper rose 0.4% to settle at $9,187 a ton on the London Metal Exchange at 5:51 p.m. local time. Nickel gained 1.5%, while aluminum slipped.