Commodities

Copper rises 2% as trade tensions ease

2019-08-13 17:07:57 GMT (Economies.com)

Copper rose today as US-China trade tensions eased after US officials announced intensive calls with the Chinese side, which have boosted market's hopes about demand on metals.

 

US Treasury Secretary Steven Mnuchin said President Trump's administration has delayed the tariffs increase decision on several Chinese imports until mid-December.

 

Which comes instead of Trump's decision to impose a 10% tariffs increase on Chinese imports worth $300 billion as of September 1st.

 

As of 14:45 GMT, dollar vs. a basket of currencies rose by 0.4% to 97.7 points, with a high of 97.8 and a low of 97.3.

 

By 14:41 GMT, copper futures (September delivery) rose by 2% to $2.632 per pound, with a high of $2.638 and a low of $2.567.

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