LME copper prices rose, rebounding from the more than 16-month low hit in the previous trading session.

On Tuesday, April 8, LME copper futures rose, rebounding from the more than 16-month low hit in the previous trading session. After the sell-off the previous day, base metal prices on the Shanghai Futures Exchange stabilized. As global trade tensions escalated, intensifying concerns about an economic downturn, market participants adopted a wait-and-see attitude. LME three-month copper rose 0.8% to $8,803 per mt, after falling to $8,105 per mt the previous day, the lowest level since November 2023. The most-traded cu2505 futures contract on the Shanghai Futures Exchange fell 1.33% to 7,330 yuan per mt, hovering near a three-month low since January 3. It fell 7% at the opening on Monday. SHFE aluminum rose 0.74% to 19,690 yuan per mt, SHFE zinc fell 0.6% to 22,255 yuan per mt, SHFE lead fell 0.81% to 16,585 yuan per mt, SHFE nickel fell 0.08% to 119,190 yuan per mt, and SHFE tin fell 1.3% to 267,410 yuan per mt. A base metal trader said, "Prices seem to have stabilized today after a sharp drop yesterday, and people are taking a wait-and-see attitude as tariffs continue to evolve." Among other metals, LME three-month aluminum rose 0.4% to $2,379 per mt, three-month lead rose 0.5% to $1,879 per mt, three-month zinc rose 0.1% to $2,617 per mt, three-month tin fell 0.6% to $33,725 per mt, and three-month nickel rose 1.5% to $14,580 per mt.