Copper claws gains as dollar continues to pressure metals

Copper rose slightly today as dollar pressure on commodities and metals prices continued, in addition to the start of a new round of trade negotiations between the United States and China.

Reuters reported that Washington and Beijing officials had agreed to hold a new round to negotiate a trade deal and resolve any lingering problems between the two countries.

US Treasury Secretary Steven Mnuchin said the two countries were close to reaching a final agreement. However, White House advisors said that reaching a trade agreement between the United States and China does not mean the end of trade disputes between the two largest economic powers in the world.

Meanwhile, the dollar index (against a number of major currencies) rose by 0.2% to 97.7 points at 14:07 GMT, reaching a high of 97.8 points and a low of 97.5 points.

In terms of trading, copper futures ( May delivery ) at 14:06 GMT rose by 0.3% to $2.90 per pound, the metal hit a high of $2.92 and a low of $2.89.