0954 GMT - Base metal prices are mixed, with LME three-month copper up 0.7% at $9,246 a metric ton and LME three-month aluminum down 0.2% at $2,391.50 a ton. Metals have broadly responded well to U.S. President Trump's 90-day pause on non-Chinese reciprocal tariffs, as well as a weakening U.S. dollar and stronger signs of demand in some markets, Morgan Stanley analysts say in a note. Copper is now trading around MS's base case estimate of $9,150 a ton on average for the second and third quarter. Hopes of Chinese fiscal stimulus to partially offset Trump's tariffs have also contributed to the stronger price, MS says. However, market uncertainty remains high and economic growth continues to look sluggish, capping any more significant potential gains for industrial metals, the analysts add. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
April 14, 2025 05:55 ET (09:55 GMT)
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