METALS-London metals rose on Trump's tariff pause

SHANGHAI, April 11 (Reuters) - Base metals in London were mostly up on Friday and copper was headed for a weekly rise, boosted by U.S. President Donald Trump's intention of a potential agreement with China and the decision to temporarily lower tariffs for numerous countries.

The benchmark three-month copper CMCU3 on the London Metal Exchange (LME) was up 0.7% at $9,050 per metric ton, as of 0703 GMT. It has gained 3% from last Friday's closing.

Trump said that he would love to get a deal with China to end an escalating trade war during a Cabinet meeting opened to press on Thursday, after he announced a 90-day pause on tariffs for most countries in a stunning U-turn on Wednesday.

The U.S. president ratcheted up duties on Chinese imports to an effective 145% rate on Thursday, further escalating a high-stakes confrontation between the world's two largest economies.

Meanwhile, Chinese President Xi Jinping will embark on a three-nation Southeast Asia tour next week to reinforce relations with other countries who also lie in the shadow of Washington's damaging trade levies.

"Market uncertainty persists, largely driven by the unpredictable nature of trade policies and tariffs. As a result, investors remain cautious, with ongoing concerns about the potential for a recession due to the ongoing trade tensions," a base metals trader said.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) rose 1.8% to 75,230 yuan ($10,273.95) per metric ton. It has lost 5% from Thursday's close of 79,190 yuan per ton. SHFE was closed on April 4 for a holiday.

SHFE aluminium SAFcv1 added 0.4% to 19,695 yuan a ton, zinc SZNcv1 added 1.3% to 22,660 yuan, lead SPBcv1 gained 1.1% to 16,825 yuan, nickel SNIcv1 was up 2% at 121,300 yuan, tin SSNcv1 advanced 3.6% to 257,450 yuan.

LME aluminium CMAL3 gained 0.4% to $2,378 a ton, lead CMPB3 lost 0.1% to $1,890, tin CMSN3 was up 1% at $30,975, zinc CMZN3 rose 0.3% to $2,649 and nickel CMNI3 rose 1.0% to $14,940 a ton.

($1 = 7.3224 Chinese yuan)

 For related news and prices, click on the codes in brackets: LME price overview      RING= COMEX copper futures  0#HG: All metals news         MTL   All commodities news      C 
 Foreign exchange rates FX=SPEED GUIDES LME/INDEX