A massive rise in basic metal prices before the Trump-Xi meeting
Base metal prices rose on Tuesday, with traders optimistic about the decline in…" target="_blank">Trade tensions between the United States and China, ahead of talks between US President Donald Trump and his Chinese counterpart Xi Jinping next week.
Copper, which is widely considered a leading economic indicator thanks to its industrial applications, remained close to record high levels, while a group announced… "BHP" Australian Mining Company announced an increase in its copper production in the first quarter, indicating that global demand for The red metal could rise by 70% by 2050.
Iron ore futures rose 1% to $104.55 per ton in Singapore, with yuan-denominated contracts rising on the exchange. "Dalian"While the performance of steel contracts in Shanghai was mixed.
Zinc futures rose by 0.4%, reaching $2,991 per ton on the London Metal Exchange, while the price of nickel rose by 0.2%, the price of copper rose by 0.1%, and aluminum rose by 0.3%.
President Trump said that he expected an agreement to be reached in Conversations with Chinaslated next week, but stressed that tariffs will rise if an agreement is not reached by November 1.
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