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LONDON.- The copper reference on the London Metal Exchange (LME) closed the day on Tuesday in red, although a weakening dollar and the recovery of the market helped to reduce losses
Red metal fell 0.5% to $ 6,491 per tonne from $ 6,490 earlier, its lowest value since October 5 in the face of fears of global growth due to of a trade dispute between the United States and China.
The prices of metals, used mainly in electricity and construction, have fallen by more than 10% since June 7.
"The prices of metals in the LME have stabilized after several days of sales," said Xiao Fu, director of commodity strategy at BOCI Global Commodities, adding that tensions between China and the states United States would remain volatile markets.
"Fears have not dissipated and are likely to limit metal prices," he added.
The dollar's decline is attributable to cheaper goods denominated in the greenback for companies located outside the United States, which could potentially lead to stronger demand for metals such as copper.
US President Donald Trump sought to renegotiate some of his country's trade relations this year, particularly with China. It imposed tariffs on certain imports, which led to similar measures by other countries and raised fears of a global trade war.
China accounts for nearly half of global copper demand, estimated at about 24 million tonnes this year. The United States requires 8%, a smaller but equally important proportion.
Of the other base metals, aluminum fell 0.9% to $ 2,000 per ton and zinc lost 1.2% to $ 2,000 to $ 789. Meanwhile, the advance rose 0.2 percent to 2 thousand 390 dollars, tin dropped 0.5 percent to 19 thousand 655 dollars and nickel lost 0.9 percent one hundred to 14 thousand 425 dollars.
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