Copper prices held near eight-month highs on Monday on the back of easing global trade tensions and as top metals consumer China unveiled a measure to support flagging economic growth. In holiday-thinned trade, benchmark copper on the London Metal Exchange (LME) closed barely changed at $6,219 a tonne. The metal widely used in power and construction was near its highest since May and was headed for its biggest monthly rise in two years. China’s central bank will use the loan prime rate (LPR) as a new benchmark for pricing existing floating-rate loans, in a step that analysts say could help lower borrowing costs and underpin economic growth. The world’s second-largest economy has been hurt by a prolonged trade dispute that eased earlier this month when Washington and Beijing agreed to sign a phase one deal. The White House’s trade adviser on Monday said the U.S.-China phase one trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the U.S. Trade Representative. The South China Morning Post reported on Monday that Chinese Vice Premier Liu He will visit Washington this week to sign the phase one deal. Ahead of the official signing, China approved two new genetically modified crops for import that could boost agricultural purchases from the United States, while renewing permits for 10 others, the agriculture ministry said.