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Copper climbs after U.S. delays plans to impose new tariffs

From uk.reuters.com

Copper prices climbed on Tuesday after the United States said its plans to impose 10% tariffs on some Chinese products would be delayed, which helped ease worries about growth and demand in top consumer China. Benchmark copper on the London Metal Exchange ended up 1.5% at $5,828.5 a tonne. Prices of the metal, seen as a gauge of economic health, fell to $5,640 last week, their lowest since June 2017. “Copper led the surge in base metals after the U.S. appeared to walk back on (President Donald) Trump’s draconian tariff plans,” said Tai Wong, head of metals derivatives trading at BMO Capital Markets. Wong added the ... (full story)

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  • Category: Fundamental Analysis