London Copper Hits Near Two-Week Low, Weekly Decline Expected

On March 28 (Friday), London copper futures hit a near two-week low as concerns over US tariffs dampened market sentiment.

At 14:45 Beijing time, the three-month copper contract on the London Metal Exchange (LME) fell 0.3% to $9,823/mt. The contract briefly dropped to $9,800/mt during the session, the lowest level since March 17.

So far this week, the LME three-month copper contract has declined 0.3%, halting the previous three weeks of consecutive gains.

Dan Smith, research director at Amalgamated Metal Trading, said: "We also believe that the US tariff hike will harm the global economic outlook or weaken base metal demand in the coming year."

Earlier, a notice stated that Myanmar's Wa State, rich in tin, will hold a meeting with investors next week at the Manxiang mine to discuss resuming mining activities in the area. According to the notice from the Wa State Industrial and Mineral Resources Administration, the meeting will be held on April 1 at the Manxiang government office.

In other base metals, the three-month aluminum contract fell 0.1% to $2,560/mt; the three-month lead contract dropped 0.05% to $2,040/mt; the three-month zinc contract declined 0.24% to $2,892.5/mt; the three-month tin contract decreased 0.2% to $35,200/mt; and the three-month nickel contract rose 0.8% to $16,380/mt.