Commodity News
HeadLine : London copper rises for 4th day, touches 2019 high
Date : Jan 18 2019
London copper prices rose for a fourth straight session early on Friday, hitting their highest level so far this year, on signs the United States and top metals consumer China are closer to resolving their long-running trade dispute. Copper is on course to add 1.2 percent this week to mark its biggest weekly gains since the week ended Nov. 16. Trade officials from the United States and China are in discussions to reopen China's market to U.S. chicken exports, the Wall Street Journal reported on Thursday, citing people familiar with the discussions. Chile's Cochilco state copper commission on Thursday maintained its average price prediction of $3.05 per pound for 2019, rising to $3.08 for 2020, amid the continuing U.S.-China trade war and further potential volatility because of Brexit. The U.S. House of Representatives backed legislation on Thursday to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminium firm Rusal, but the Trump administration is expected to lift them as soon as Friday.

Source: Reuters
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