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The price of red metal was at its lowest point of a year
The price of copper did not hit the bottom and the so-called Chilean wage ended its eighth consecutive fall on the London Metal Exchange, news that is already beginning to disturb the country's economic authorities.
In today 's session, the raw material fell from 1.42% to US $ 2,7134 per pound that is u level lower in 12 months.
During the last eight sessions, copper accumulated a decline of 6.28%.
The red metal is in a poor state of affairs for commodities in general, while investors remain attentive to the effects that the trade war can have on the economy in general, and China in particular.
Negotiations between China and the United States, which have somewhat eased market concerns for a few months, are frozen, and conflict fronts seem to widen as the European Union is preparing the list of US products that will be taxed if President Donald Trump decides to start tariffs against European automobiles.
the metal was also under pressure, and projects US $ 2.70 at the end of this quarter. In September, futures were down 2.72% to US $ 2,668 per pound, while contracts in December were down 2.69% to US $ 2,7080.
It should be remembered that about 40% of Chilean exports are badociated with copper, raw material responsible for Chile's tax funds.
In this context, Minister Felipe Larraín summoned the Treasury to the country's economic authorities to deal with the effects of the war. global trade, especially in copper and local business.
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