“Industrial metals reacted broadly positive as investors assess the outlook for US-China trade tensions while both major economies signal willingness to negotiate,” John Meyer, SP Angel analyst said.
“Copper regained [momentum] on the announcement of China imposing additional tariffs on US imports to retaliate for duties on its high-tech goods reported from the Trump administration on Tuesday,” he added.
Copper closed $92 higher to climb back above the $6,800 per tonne support level. The red metal continues to find support from expectations of negotiations between the US and China allaying trade tensions.
“While it is too early to assert if the rebound in copper will last, we are...