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The price of copper fell 1.5% this week compared to the previous one, after closing today at $ 2.754 per pound. Because of the negative effects it has had in the markets, the trade war between the United States and China, said the Chilean Copper Commission (Cochilco).
In its weekly market report, which badyzes the factors that affect the value of the main Chilean product, the body warns that the current price level will persist until the uncertainties arising from trade tensions are dissipating, "a term that is difficult to specify".
In any event, the text points out that the price today's closing is a recovery from the $ 2.71 per pound recorded yesterday, which was the lowest value reached by the metal up here this year, according to EFE.
framed in a The Commission also noted that the decline of nearly 100,000 metric tons of copper stocks in the stock exchanges. the metals have known in the past 20 days suggests an excessive reaction of investors in the metal.
During the week, copper inventories decreased by 4.3%, or 29,884 metric tons, although this year accumulated an increase of 22.2% over the end of 2017, or 120,225 tonnes, a total of 662 936 tonnes
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