On Tuesday, copper on the LME lost 81 USD, or 1.2%, to USD 64,745 per tonne. The metal reacted with a drop in quotes to earlier speculation in the markets, which was provided by US President Donald Trump with a statement about the US withdrawal from the nuclear contract with Iran.
The speculation was confirmed when President Donald Trump announced on Tuesday that he was withdrawing the United States from an international nuclear deal with Tehran and added that the deal was essentially unsuccessful. He announced that "powerful sanctions" against Iran are effective immediately.
Copper gained another 0.6 percent on the LME on Tuesday after China's foreign trade data, which confirmed that the world's second-largest economy continues to enjoy strong demand for metals.
Copper prices influenced by Trump's decisions and demand in China
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Azovpromstal® 9 May 2018 г. 13:33 |
