Market Analysis: Base metal prices pump, but the rise remains suppressed by tariff risks.

GoldenOctober2024

2025-04-10 12:17:27

Jin10 data reported on April 10, the prices of base metals are rising, with LME three-month copper up 0.3% to $8,923.50 per ton, and LME three-month aluminum up 0.9% to $2,378 per ton. However, copper and aluminum prices are still under pressure, having fallen 8.3% and 4.5% respectively this week. Analysts at Mitsubishi UFJ stated in a report that since Trump announced comprehensive tariffs on April 2, U.S. copper prices have fallen by about 19%, approaching Bear Market territory. Mitsubishi UFJ Financial Group indicated that looking ahead, the downward risks facing the global economy have reinforced a cautious view on base metals in the near term.

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