FX.co ★ Copper Sideways Amid Global Trade Concerns

Copper futures remained stable at approximately $4.84 per pound on Tuesday, navigating a cautious path due to ongoing global trade tensions. China's government dismissed talks of current negotiations with the United States, refuting claims of a dialogue between President Xi Jinping and President Donald Trump. In parallel, US Treasury Secretary Scott Bessent remarked that several key trading partners have presented promising tariff proposals, suggesting that a trade agreement with India might soon come to fruition. In China, the largest consumer of copper, officials conveyed assurance in reaching their anticipated 5% annual growth target, refraining from introducing immediate stimulus measures. They conveyed a commitment to unveiling new pro-growth policies by the second quarter, choosing to first evaluate the consequences of trade disruptions before implementing decisive actions.