close
Friday April 19, 2024

Copper higher

By REUTERS
June 21, 2018

Manikla : London copper rebounded from a three-week low on Wednesday after losing nearly 2 percent in the previous session, although a deepening trade row between China and the United States capped any recovery in risk appetite.

Nickel, up more than 1 percent, was the top gainer while other metals including aluminium and zinc also edged up, but most were not far above multi-week lows reached on Tuesday.

"While the (trade) tariffs in themselves don´t derail the narrative of global economic growth, the prospect of further punitive measures taken by both the U.S. and China certainly heightens that risk," Commonwealth Bank of Australia analyst Vivek Dhar wrote in a report.

Three-month copper on the London Metal Exchange was up 0.2 percent at $6,855 a tonne by 0710 GMT, after initially hitting $6,807, its weakest level since May 31.