Copper collapses and falls to its lowest level for 9 months in a context of trade tensions | AmericaEconomy



[ad_1]

London . Copper fell to a nine-month low on Wednesday, before tariffs on goods from China and the United States were introduced, which could affect demand for industrial metals

0.6 % at US $ 6.448 per tonne at 1132 GMT, its lowest level since September 2017.

"(US President Donald) Trump is not promoting global trade," said Carsten Menke, Senior Analyst at Julius Baer

"There is a review of the export side of the market in terms of household items or electronic products containing copper that are shipped from China and we think that it will be with us at least until Mid-term elections In 1965, the benchmark copper on the London Metal Exchange fell 0.6% to US $ 6.448 per tonne to 1132 GMT, its lowest level since September 2017.

Washington announced that it would apply tariffs on Chinese imports for $ 34 billion on July 6 and Beijing promised to take similar measures on the same day

. The first hour of July 6, a person familiar with the plan told Reuters in the midst of escalating trade tensions between the two largest powers in the world.

China lobbies the European Union for it to issue a joint statement against Trump's trade policy at a summit to be held this month, but faces up the resistance, the European officials said.

Workers at Codelco Chuquicamata copper mine in Chile, the second largest production terms, threatened last week with a strike for plans to transform a century-old open mine

The expansion of the sector of China 's services have accelerated to reach record highs in four years in June, thanks to a recovery in business and sustained growth in employment, according to a private survey.

base metals, zinc fell 1.8% to US $ 2,739 per tonne, after reaching its lowest level since July 2017, and nickel reached a minimum of seven weeks at $ 14,160 US

[ad_2]
Source link