Base metals prices on the London Metal Exchange were under pressure across the board this morning on Thursday August 13, with the copper price dipping 1.2%.
The three-month copper price dropped by $82.50 this morning, recently trading at $6,350 per tonne, with upward movement capped by political stalemate.
"The deadlock over a new stimulus deal in the US capped prices, while a softer US dollar index underpinned sentiment. Copper eased on Thursday, but aluminium held," Marex Spectron's morning report said.
"Rising US-China geopolitical tensions didn't help sentiment in the sector. They remain in focus this week as officials from the two countries meet to discuss progress of the phase one trade deal," ANZ's research report added....