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The copper price for March settlement on the Comex division of the New York Mercantile Exchange was flat at $2.7720 per lb.
The focus of market participants – and the main driver of direction – remains the US-Chinese trade talks.
“We expect further upside in copper prices over the next month due to a stronger macro sentiment, which should prompt a normalization in copper’s positioning,” Fastmarkets MB analyst Boris Mikanikrezai said.
In precious metals, the Comex price of gold for April slipped 40 cents or 0.1% lower to $1,313.60 per oz. Trade has ranged narrowly from $1,311.10 to $1,317.60 so far today.
Currency moves and data releases