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19-Sep2018

Copper futures end higher on Tuesday

Copper futures ended higher on Tuesday after the United States and China announced fresh tariffs that were less harsh than some investors had feared. The US 10% tariff on $200 billion of Chinese imports starting September 24 was a measured response than the immediate 25% duty some had expected, and copper prices actually extended gains after China responded that it would retaliate with 5%-10% tariffs on $60 billion of US goods.

Copper futures for September delivery gained 3 percent to settle at $2.7120 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 2.4 percent at $6,087 a metric ton.


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