Copper futures trade lower on trade deal doubts

Copper futures traded lower on Friday on doubts over a preliminary resolution of the prolonged trade dispute between the world's two largest economies after China warned the United States that it would take ‘firm counter measures’ in response to US President Donald Trump signing into law legislation which supports protesters in Hong Kong. Meanwhile, markets are awaiting surveys of purchasing managers in China's manufacturing sector for clues to future demand.

Copper futures for March delivery lost $0.0250 to $2.6710 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 0.1 percent at $5,898 a ton.

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Copper futures trade tad higher on trade deal hopes

Copper futures traded marginally higher on Monday on fresh hopes of positive progress in Sino-US trade talks after leaders of the world’s two largest economies sent positive signals. A senior US official said an initial trade agreement is still possible by the end of the year, while Chinese President Xi Jinping and US President Donald Trump both underscored their desire on last Friday to sign an initial trade deal and defuse a 16-month tariff war that has lowered global growth.

Copper futures for December delivery gained $0.0005 to $2.6485 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.3 percent at $5,871 a ton.

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