London Metal Exchange three‑month copper fell 2.6% to $10,544.50 per metric ton by 10:04 GMT on Tuesday, October 14, 2025, as renewed U.S.–China trade tensions weighed on demand expectations for growth‑sensitive metals. The risk‑off tone followed both countries starting to levy additional port fees on ocean shipping firms, a move traders said could dent trade flows. China’s Yangshan copper import premium fell 8% to a two‑month low of $45 per ton, indicating softer spot appetite from the world’s largest consumer. On the curve, the LME cash–three‑month spread premium for copper was last around $100 per ton after touching $227 on Monday, the highest since June. Broader base‑metals prices moved lower alongside copper: aluminum eased 0.8% to $2,739.50 per ton; zinc dropped 2.4% to $2,946.50; nickel dipped 0.2% to $15,175; tin and lead slipped 0.4% to $35,505 and $1,980.50, respectively. Analysts noted copper remains down about 4% from last week’s $11,000 high, reached amid supply disruptions in Indonesia, the Democratic Republic of Congo and Chile. Technical support for copper was cited near the 21‑day moving average, around $10,375. Shanghai contracts also reversed gains on the same trade‑war concerns during Tuesday dealings. The moves came as the U.S. signaled talks with China later this month even as tit‑for‑tat measures elevated shipping costs and uncertainty.