increased due to weaker USD

Three-month copper on the London Metal Exchange (LME) rose 0.4% to $9,036.50 a tonne.

The metal, used in electricity and construction, has been trading in a tight range for two weeks as the market awaits details on potential US tariffs and a possible response from China.

US President Donald Trump released details of his plans to impose tariffs on China, Canada and Mexico on Monday, pledging to impose an “additional 10% tariff” on all Chinese imports.

“The prospect of a trade war has raised expectations that Beijing will roll out more stimulus,” said Ewa Manthey, a commodities analyst at ING. “Any sustained rise in metals prices will depend on the strength and speed of the stimulus.”

China’s industrial profits fell in October but not as sharply as the previous month as deflationary pressures persisted while demand remained weak in the crisis-hit $19 trillion economy .

Meanwhile, LME aluminium fell 0.1% to $2,611 a tonne, pressured by supply after miner Rio Tinto lifted force majeure on alumina exports from Australian refineries.

Tin fell 2.2% to $28,215 after hitting $27,765, its lowest since April 3, on pressure from hedge funds reducing their net long speculative positions.

Tin is heading for a second monthly decline and the decline has helped revive demand, a metals trader said.

Zinc rose 1.3% to $3,114 after hitting $3,149, its highest since Oct. 29, as the amount of metal available in LME-registered warehouses fell sharply for a second day after notices from holders showed they wanted to remove nearly 50,000 tonnes.

Lead rose 0.9% to $2,039.50 while nickel fell 0.1% to $15,965.