METALS-London copper rises; caution ahead of US reciprocal tariffs caps gains

SHANGHAI, April 2 (Reuters) - Copper prices in London rose on Wednesday, but gains were capped as investors cautiously awaited details of reciprocal tariffs from U.S. President Donald Trump expected later in the day.

The benchmark three-month copper CMCU3 on the London Metal Exchange (LME) rose 0.5% to $9,741 per metric ton, as of 0707 GMT.

Trump said on Sunday his reciprocal tariffs will apply to all nations. He is expected to announce the levies at 2000 GMT.

"Currently, we sense a risk-off sentiment due to the looming uncertainties ahead of Trump's reciprocal tariff announcement later today," a base metals trader said.

The Caixin/S&P Global manufacturing PMI released on Tuesday climbed to 51.2 in March, from 50.8 in February, reflecting growth in manufacturing despite potential threats from the escalating U.S. trade war.

Meanwhile, tin SSNcv1 on the Shanghai Futures Exchange outperformed the broader base metals market, rising 3.9% to 297,590 yuan ($40,933.41)due to fears of supply disruptions from an earthquake in tin-rich Myanmar last Friday.

The earthquake has affected market expectations for the resumption of tin mining in the country, and if the mining area collapsed, it's likely there won't be a resumption in Wa State this year, Chaos Research said in a note.

Previously, Myanmar's Wa State considered allowing mining to resume in the tin-rich region.

The state accounts for 70% of the tin production of Myanmar, the world's third-largest producer and a dominant supplier to China.

Among other metals, LME aluminium CMAL3 lost 0.5% to $2,494 a ton, lead CMPB3 slid 0.5% to $1,982, zinc was down 0.1% to $2,818, tin CMSN3 gained 1.7% to $38,120 and nickel CMNI3 was 0.1% lower to $16,090 a ton.

SHFE copper SCFcv1 was flat at 79,890 yuan a ton, SHFE aluminium SAFcv1 was down 0.2% at 20,435 yuan a ton, zinc SZNcv1 lost 0.6% to 23,380 yuan, lead SPBcv1 slid 0.3% to 17,360 yuan, while nickel SNIcv1 rose 0.6% to 129,460 yuan.

($1 = 7.2701 Chinese yuan renminbi)