Economic news

Copper edges up on weaker dollar, trade prospects

Copper prices surged on Friday as a cautious U.S. Fed view on interest rates drove the buck lower, while the ongoing trade negotiations between the U.S. and China fueled anticipations of an end of trade war.

Copper prices Jan 11Photo: Pixabay

Three-month copper on the London Metal Exchange added 0.5 percent to $5,956.50 a tonne, poised for its largest gain for a week since mid-November.

Washington awaits China’s top trade negotiator to visit the U.S. in January as a result of this week’s rather successful negotiations with mid-level officials in Beijing.

The environment for base metals has improved recently due to the progress in trade talks and softer dollar, analysts admit.

Among other metals, Nickel jumped 2 percent to $11,470 per tonne, its top since Nov. 15. Tin edged up for a fifth session and breached a fresh six-month peak of $20,275.

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