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14-Feb2019

Copper futures end marginally higher on hopes of easing trade tensions

Copper futures ended marginally higher on Wednesday due to signs of an easing in tensions in the US-China trade conflict. US Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to iron out an agreement to resolve their trade dispute. On Tuesday, US President Donald Trump said he could let the deadline for a trade agreement 'slide for a little while'. If a trade deal cannot be reached by the deadline of March 1, US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Copper futures for March delivery added $0.0010 to settle at $2.773 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended up 0.3 percent at $6,125 a tonne.


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