Copper pops on trade hopes after hitting multi-year low earlier this week

|About: Freeport-McMoRan Inc. (FCX)|By:, SA News Editor

Copper prices are rallying amid renewed optimism for trade progress between the U.S. and China, bringing the metal's two-day gain above 4%.

December Comex copper recently was +1.5% to $2.633/lb., extending its rebound from yesterday after hitting a new multi-year low earlier in the week.

Some analysts remain skeptical that prices will maintain their bounce because the U.S. and China have continued to ramp up tariffs on the other side's imports and previous rounds of talks have failed to yield a trade deal; meanwhile, manufacturing data around the world show factory activity contracting.

Global miners are higher: FCX +4.6%, TECK +3.6%, SCCO +3.4%, RIO +0.6%, BHP +0.5%.

Other relevant tickers include OTCQX:AAUKF, OTCPK:AAUKY, OTCPK:GLCNF, OTCPK:GLNCY, OTC:ANFGF, OTCQX:FSUMF

ETFs: JJCTF, COPX, CPER

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