LIVE FUTURES REPORT 24/12: LME copper price hits fresh 7-month high on potential Chinese output cuts

Copper hit a fresh seven-month high today on the London Metal Exchange on Tuesday December 4 while Chinese smelters were preparing for a meeting at which potential cuts to refined supply will be a talking point.

Copper for three-month delivery on the LME peaked at $6,235 per tonne, its strongest since May 7, before closing at $6,215 per tonne, still up 0.4% from yesterday's 5pm close.
Improved trade relations between China and the United States - they two nations agreed on a phase-one deal that includes ending enforced tariffs on many goods - since earlier this month have boosted copper prices though metals are yet to be included in any agreement.

But refined copper physical market fundamentals appear to...

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