Base Metals Surge After Trump Pauses Tariffs; China Faces Increased Pressure

London's base metals market experienced a surge on Thursday, April 10, following U.S. President Donald Trump's decision to temporarily suspend recently imposed tariffs on several countries. The benchmark three-month copper on the London Metal Exchange (LME) increased by 4.3%, reaching $8,980 per metric ton as of 0434 GMT. Previously, LME copper had fallen by 12% from its peak of $10,164.50 on March 26. The most-traded copper contract on the Shanghai Futures Exchange (SHFE) increased by 3.2% to 74,810 yuan ($10,187.80) per metric ton. Trump announced a 90-day pause on many new tariffs. However, tariffs on China were raised to 125%, up from 104%, after Beijing increased duties on American imports to 84%. SHFE aluminium rose 1.9% to 19,810 yuan a ton, zinc added 2.3% to 22,575 yuan, lead gained 1.6% to 16,735 yuan, nickel climbed 1.2% at 120,370 yuan, while tin fell 1.5% to 255,610 yuan. LME aluminium added 3.7% to $2,400 a ton, lead rose 3% to $1,896, tin gained 6.8% to $31,850, zinc up 3.6% to $2,651 and nickel was up 3.9% at $14,630 a ton.