Copper prices in London are rising due to possible US trade agreements with other countries

Copper quotations on the LME metal exchange in London are growing, and investors focus attention on possible US trade agreements with other countries – the brokers inform.

Copper in 3-month deliveries is valued above by 0.9 percent. – after USD 9,450.50 per ton.

At Comex in New York, copper costs $ 4,7405 per pound, higher by 0.88 percent

On the SHF metal exchange in Shanghai, copper is valued after 77,870.00 yuan per ton, higher by 0.41 percent.

On Sunday, US President Donald Trump suggested that his administration may conclude trade agreements with some countries within a few days.

“It is very possible,” Donald Trump told reporters on Sunday, when he was asked if any trade agreements would be concluded this week.

The US president has not mentioned the names of the countries.

However, there are still no signs that the improvement of the US relationship with China is inevitable, especially since Donald Trump said that he is not planning to talk this week with the President of China Xi Jinping.

Meanwhile, investors are waiting for the Wednesday monetary decision of the American federal reserve, and traders gradually withdraw from the assessments of stronger mitigation of monetary policy, which increased earlier as the trade war of President Donald Trump caused havoc on global financial markets.

According to the communication of bankers from FOMC, the market is expected to stabilize interest rates in the US in the range of 4.25-4.50 percent.

At the end of the previous session – on Friday – copper on LME gained USD 160 to USD 9,366 per ton. On Monday, the British celebrated May Day.

(PAP Biznes)

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