Copper falls amid uncertainty over Trump-Xi Jinping meeting

Copper prices fell during today amid a sharp rise of the dollar against most major currencies, as well as uncertainty about the meeting between Donald Trump and Chinese President Xi Jinping.

Trump belittled the importance of this potential meeting, saying that if Xi attended the G20 summit, it would be a good thing. If he did not attend, the United States would get billions of dollars by imposing tariffs on Beijing.

Trump has threatened to impose tariffs on imports of Chinese goods worth $300 billion as soon as Xi Jinping does not attend the G20 summit in Osaka, Japan, later this month.

Separately, by 14:06 GMT, the dollar index (against a number of major currencies) rose by 0.3% to 97.2 points, reaching a high of 97.3 points and a low of 96.9 points.

In terms of trading, by 14:01 GMT, copper futures (July delivery) fell by 0.8% to $2.633 per pound, with the highest at $2.665 and the lowest price at $2.63.