0904 GMT - Base metal prices rise, with LME three-month copper up 1.5% at $9,388.0 a metric ton and LME three-month aluminum up 1% at $2,432.50 a ton. Physical signs including premiums, timespreads and inventories outside the U.S. are pointing to copper market tightness as the delayed effect of diverting metal to the U.S. ahead of tariffs filters through, Morgan Stanley analysts say in a note. This is keeping prices well supported, though downside demand risks are looming in the second half of the year, MS says. This reflects the effect of U.S. tariffs deteriorating the global economic backdrop, with Chinese manufacturing figures for April already showing slumping output, analysts write. A more benign tariff outcome or more Chinese fiscal stimulus may provide some offset to pressure on copper prices, MS adds. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 05:04 ET (09:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。