Copper Price Rises to US $ 2.89 at the London Stock Exchange | Trade | Economy | markets

The price of copper reversed its negative trend on Monday after the beginning of the tariff measures of China and the United States.

The red metal regained today London Stock Exchange where it published this morning a rise of 0.90% at a price of US $ 2,895, close to recovering the floor of $ 2.90 that he lost last Friday.

With the result, the copper price reported its largest variation in a month (June 7) left behind its biggest downtrend since November 2015, as reported Diario Financiero .

In addition, the copper futures rose 0.87% to US $ 2.89; while inventories fell by 1.79% to 270,550 metric tons, a minimum since January of this year.

The downward trend in the price of red metal is related to fears on the markets of a trade war between the major ones. Copper recovers on Monday from other commodities, after Chinese government officials said they would not use the currency as a weapon to boost exports, enjoying the yuan in the last few hours , "he added, Daniel Meriño, market analyst XTB Latam, said Diario Financiero .

Bci Inversiones, meanwhile, pointed out that the markets are quieter after the start of tariffs between China and the United States. "Raw materials are now rising sharply, especially thanks to copper, the price of steel and aluminum bonuses are skyrocketing in the United States. United, pushed by the increase in tariffs, the important thing being that they continue to climb the next stages of the negotiations, which would imply an increase in tariffs on other products, "said Bci Inversiones