The LME copper hit its highest on Monday level in more than a week. Most of the other metals in the complex of base metals have also increased.

The reference price for copper at the LME was in up 0.2% to 12,978.50 dollars per metric ton at 03:09 GMT, after having reached a high of more than a week at 13,050 dollars.

Shanghai Futures Exchange, closed for the Lunar New Year vacation, will reopen on February 24.

“Base metals are quietly taking advantage of the court decision (on customs tariffs), but this is mainly due to the fall in the dollar,” said Tim Waterer, chief market analyst at KCM Trade.

Elsewhere, copper stocks in warehouses approved by the LME increased by 9575 tons to reach 235,150 tons Thursday, the highest level since March 2025.

Among the other metals, aluminum rose by 0.3% to $3,110, while lead increased won 0.1% to 1,966 dollars. The price of zinc fell slightly by 0.3% to $3,374 and that of nickel rose by 1.2% to $17,545 The ton.