Copper Prices Steady Amid Trade Deal Anticipation
Copper prices have stabilised near record highs as markets await confirmation of a trade agreement between the US and China, according to ANZ.
The metal is supported by tightening supply conditions and a more optimistic demand forecast.
- Negotiators have reportedly made progress on significant issues, including tariffs, shipping fees, and export controls.
- Anglo American's Collahuasi copper mine in Chile is expected to produce below previous forecasts for the coming year, intensifying market pressures.
“details remain vague,”
contributing to trader caution.
Author's summary: Copper prices steady ahead of US-China trade deal.