METALS-Shanghai copper gains as Trump signals possible end to China tariff hikes

April 18 (Reuters) - Copper prices in Shanghai rose on Friday as a possible end to the tit-for-tat tariff hikes between the U.S. and China came into view after U.S. President Donald Trump expressed optimism over a potential deal.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 rose 0.5% to 76,220 yuan ($10,445.82) per metric ton as of 0615 GMT.

The London Metal Exchange is closed for the Good Friday holiday.

On Thursday, Trump signalled he does not intend to go higher on tariffs on Chinese imports.

The U.S. has been hiking rates on Chinese imports in response to Beijing's counter-measures, with the latest White House fact sheet stating that China now faces up to 245% tariff.

Last week, China said it "will not respond" to a "numbers game with tariffs," hinting that across-the-board rates won't rise further.

Trump said China had been in touch since the imposition of tariffs and expressed optimism that a deal could be reached.

Meanwhile, China's central bank pumped 250.5 billion yuan via 7-day reverse repurchase agreements at 1.5%.

The country's refined copper production in March rose 8.6% year-on-year to 1.25 million metric tons, data from the country's National Bureau of Statistics showed.

SHFE aluminium SAFcv1 gained 0.3% to 19,695 yuan a ton, zinc SZNcv1 rose 0.6% to 22,100 yuan, nickel SNIcv1 firmed 0.1% to 125,730 yuan, lead SPBcv1 gained 1.1% to 16,905 yuan, and tin SSNcv1 added 0.1% to 257,030 yuan.

($1 = 7.2967 Chinese yuan renminbi)