Copper recovers from two-year low

Copper rose during today's trading, recovering from a two-year low reached yesterday due a large sell-off wave in the global markets on the escalation of the ongoing US-China trade war.

The US Treasury today, designated China as a currency manipulator, which might cause more volatility in the markets.

This came as Beijing ordered its state-owned to stop any US agricultural products, after Washington stated its intention to put a 10% increase in tariffs on Chinese imports worth $300 billion.

Accordingly, US dollar rose by 0.1% to 97.6 points as of 14:27 GMT, with a high of 97.7 and a low of 97.2.

By 14:22 GMT, copper futures (September delivery) rose by 0.5% to $2.557 per pound, with a high at $2.568 and a low at $2.535.