- Copper is pushing higher to test the USD 2.70 per pound psychological level.
- The market is flying after the improved trade war optimism.
Copper is flying today helping commodities currencies earlier in the session.
There has been reports that there will be tariff concessions from both sides to get the “phase one” trade deal through.
This could open the way for the December 15th tariffs to be pushed back or even dropped.
Elsewhere, copper miner Antofagasta’s production cuts in Chile have doubled to about 10,000 tonnes which is also bullish for the metal.
China also cut its medium-term lending facility rate slightly too boost capital that could be used for investment.
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