Thursday , August 18 2022

Copper one step away from US $ 3 until there is agreement between China and US


Industrial metal rose almost 5% a week, while investors stopped the end of the discussions between the two powers.

Although the eyes of the market are strong on the discussions between China and the United States and ending today with a meeting in Washington, copper reported its third consecutive day of progress.

According to Cochilco data, industrial metal it was US $ 2.9434 per pound, to be more than the US $ 3 line for the first time since the end of June last year.

With this, the main export of the country marked jump or 1.54% in relation to yesterday's closure and 4.83% in relation to last Friday's closure.

At the same time, a metal future is more than 1% in Comex, New York.

These movements occur in an environment of optimism that the commercial war, which has created instability in the financial markets in the past 12 months, can end.

Investors are waiting for this round of discussions between Washington and Beijing to end with a key meeting today in the US capital. President Donald Trump is expected to meet the leader of the Asian delegation, Liu He, who lights up the hopes that the president can announce an increase that gives light to the end of the commercial war that both powers.

As well as channeling appetite for risk, co-ordination between the two countries could directly benefit from copper through the potential impact on the Chinese economy, the largest consumer of metals on a global scale.

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