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China US Trade Negotiation News Supports Copper Prices
China US Trade Negotiation News Supports Copper Prices
Copper prices touched their highest in more than two weeks as positive signals from the China US trade negotiations stoked hopes of improving global appetite. The most-traded copper contract on the Shanghai Futures Exchange advanced as much as 0.7% to CNY 47,410 (USD 6,735) a tonne, its highest since November 11. Benchmark three-month copper on the London Metal Exchange dipped to USD 5,870 a tonne, easing from a two-week high touched in the previous session.
US President Mr Donald Trump said that “The United States and China are close to agreeing on the first phase of a trade deal. They are in the final throes of work.”
The 16-month dispute has been weighing on global economic growth and demand for industrial metals, so signs of progress often support metals prices.
Source : Strategic Research Institute, SteelGuru