Base metal prices rose on Friday after China announced it is considering holding trade negotiations with the United States, boosting optimism for a possible agreement that could reduce tariffs between the world's two largest economies.
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Copper recorded gains for the second consecutive day, tracking the rise in high-risk assets. It climbed by 1.6% to $9,351 per ton on the London Metal Exchange as of 10:24 a.m. Singapore time, though it remained nearly flat on a weekly basis.
Most other metals also saw gains on Friday, led by tin, which rose by 1.7%, according to the economic news platform Bloomberg.
Iron ore futures in Singapore increased by 0.7% to reach $95.75 per ton, while Chinese markets remained closed due to a public holiday.
Base metals had been under significant pressure due to the high tariffs imposed by U.S. President Donald Trump on China, which threatened to slow economic growth and reduce demand for key commodities.
