Copper prices touched a near five-month high on Wednesday on hopes that the United States would delay imposing more trade tariffs on goods from China, which would signal a detente in the dispute that has sapped metals demand.
Although a final decision had not been made, Washington was laying the groundwork for a postponement to the latest round of tariffs which are due on Dec. 15, according to sources.
“Prices are continuing to climb steadily higher today,” said Saxo Bank analyst Ole Hansen. “We have had the usual rollercoaster in the conflicting news on whether tariffs will be postponed.”
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