1657 GMT - Base metal prices rise, with LME three-month copper up 0.2% at $9,376.50 a metric ton and LME three-month aluminum up 0.3% at $2,611 a ton. Metal prices are becoming increasingly disjointed across different markets alongside President Trump's escalating U.S. tariff policy announcements, HSBC analysts say in a note. The premium for copper in New York over London prices rose to a new high, the Midwest aluminum premium has surged and the spread between gold futures and spot prices has spiked, HSBC writes. Traders have been looking to secure commodity supplies in the U.S. ahead of any tariffs--adding to a surge in the country's trade deficit by nearly 26% on month, its widest on record, HSBC adds. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 11:57 ET (16:57 GMT)
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