Copper futures end lower on renewed trade tensions

Copper futures ended lower on Thursday on worries over renewed trade tensions between Washington and Beijing weighed on sentiment ahead of the release of June trade data from China, though dollar’s weakness against a basket of major currencies after Federal Reserve Chairman Jerome Powell raised expectations for an easing of monetary policy capped some losses in copper prices. Powell said the US economy was under threat from a damaging trade war between Washington and Beijing, disappointing factory activity and tame inflation.

Copper futures for September delivery fell 0.2 percent to settle at $2.688 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange ended up 0.3 percent to $5,955 a metric ton.

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