Copper futures are sliding on Tuesday, driven by disappointing data from the world’s second-largest economy and uncertainty over US-China trade negotiations. Despite topping .70 over the weekend, it has pared those gains and is now trading just above the .60 mark. Are metal investors losing hope in Washington and Beijing reaching a trade deal before the year is over? November copper futures tumbled %excerpt%.015, or 0.54%, to .6265 per pound on the Comex division of the New York Mercantile Exchange. Copper prices are up about 2% so far this month, but they have slipped into negative territory by 0.5% year-to-date. Markets have been bearish on the industrial metal over the last two sessions. In China, value-added industrial production rose 4.4% in August, the smallest gain in output since
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Copper futures are sliding on Tuesday, driven by disappointing data from the world’s
November copper futures tumbled $0.015, or 0.54%, to $2.6265 per pound on the Comex division of the New York Mercantile Exchange. Copper prices are up about 2% so far this month, but they have slipped into negative territory by 0.5%
Markets have been bearish on the industrial metal over the last two sessions.
In China, v
On Thursday, US and China trade representatives will begin their
In the backdrop this week is the Federal Reserve’s
A lack of a rate cut could be bad for the red metal because it would not send a jolt to the economy. Copper is an important component for construction, manufacturing, and other industrial sectors, so without a cash injection, copper may not enjoy a rally.
In other metal markets, December gold futures tacked on $1.00, or 0.06%, to $1,512.50 per ounce. October silver futures added $0.10, or 0.55%, to $18.125 an ounce. October platinum futures edged up $4.60, or 0.49%, to $943.80 per ounce. October palladium futures advanced $4.90, or 0.31%, to $1,597.10 an ounce.
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