Copper recovers on fresh round trade talk plans

07 January 2019 | Business

London copper rose more than 2% on Friday, recovering from an 18 month low hit in the previous session, as investor sentiment was bolstered by China's announcement of a new round of trade talks with the United States. But the market was facing its biggest weekly drop in almost two months on worries over slowing growth in top industrial metals consumer China. Three month copper on the London Metal Exchange was up 2.1% at US$5 856 a tonne, as of 0704 GMT, and the most-traded copper contract on the Shanghai Futures Exchange slid 0.1% to close at 47 180 yuan (US$6 872.74) a tonne. Photo Nampa/Reuters

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