Copper falls on renewed US-Sino trade tensions

Economies.com
2020-09-08 13:49PM UTC

Copper prices fell on Tuesday, as the US dollar rose against its major counterparts, amid renewed trade tensions the US and China.

 

But copper prices are still near a 2-year high, lifted by a drop in London Metal Exchange's (LME) copper inventories to a 15-year low.

 

Copper rose in September 1 to $6,830 per tonne, a 50% jump from the lowest level hit in March.

 

Otherwise, US President Donald Trump stated that his administration is considering of separating the US and Chinese economies "decoupling".

 

The dollar index rose against a basket of currencies by 0.7% to 93.3 points as of 14:37 GMT, after it hit a high of 93.4 and a low of 93.

 

Copper December futures fell 1.5% to $3.01 per pound as of 14:33 GMT, after hitting a session-high of $3.08 and a low of $3.

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