Most Read Copper falls as concerns of rising U.S.-China tensions denting metal demand SINGAPORE, June 4 (Reuters) – Copper prices fell on Thursday due to concerns that the retaliation measures by the United States against China could further hurt the already-dampened global economy and demand for metals.Washington on Wednesday barred Chinese passenger planes from flying to the United States starting on June 16.It is also expected to designate at least four state-run Chinese media outlets as foreign embassies, increasing their restrictions.Traders have been worried that rising U.S.-China tensions could eventually hurt an existing trade deal between the world’s two biggest economy and further dampen the global economy.Copper is often used as a gauge of global economic health.Three-month copper on the London Metal Exchange (LME) fell 0.8% to $5,478 a tonne by 0241 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange declined 0.5% to 44,670 yuan ($6,269.21) a tonne.FUNDAMENTALS * OTHER PRICES: LME nickel dropped 1.8% to $12,630 a tonne and aluminium declined 0.4% to $1,562.50 a tonne.In Shanghai, aluminium rose 0.7% to 13,190 yuan a tonne and nickel fell 1.7% to 102,040 yuan a tonne.
* For the top stories in metals and other news, click or MARKETS NEWS * Stronger appetite for riskier assets is set to lift Asian equities, as government stimulus expectations support investor confidence in an economic recovery from the coronavirus.DATA/EVENTS (GMT) 1145 EU ECB Refinancing Rate June 1145 EU ECB Deposit Rate June 1230 US International Trade April 1230 US Initial Jobless Claims Weekly PRICES ($1 = 7.1253 yuan) (Reporting by Mai Nguyen; Editing by Rashmi Aich) 2020-06-04 05:09:32
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