COMEX January 7th Copper Review

NEW YORK, January 7 news, COMEX copper fell on Monday, traders concerned about the progress of Sino-US trade negotiations.

The most actively traded COMEX March copper contract fell $0.0105 to close at $2.6370 per pound.

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China said on Monday that it has “sincerely” cooperated with the United States to resolve trade frictions.

US Commerce Secretary Ross said on Monday that the United States and China may reach a good solution on direct trade issues, and it is more difficult to reach an agreement on structural trade issues and implementation. The United States and China resumed trade talks on Monday.

According to data released by the Chilean central bank, Chile’s copper exports in the year of 2018 increased by 4.7% year-on-year, due to better performance in the industry, but Sino-US trade tensions affected the performance of copper prices in the second half of the year.

However, copper exports in December fell 13.6% from the same period of the previous year to 3.489 billion US dollars, one of the few months affected by the trade war.

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According to central bank data, the country’s copper exports for the full year of 2018 were 36.494 billion US dollars, and the total export value was 75.482 billion US dollars.