Comex copper prices have extended the latest downturn and are now trading at the lowest point since June 20 on Thursday August 2 morning in the US, due to another round of trade worries.
Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.55 cents or 0.6% to $2.7320 per lb. The contract also hit a low of $2.7075 per lb.Ongoing trade tensions between the US and China have re-emerged after US president Trump pledged raising tariffs on $200 billion worth of Chinese goods from 10% to 25%, and are widely pressuring base metals. Similarly, poor data from China earlier in the week signaled a slowdown...