Copper falls on heightened trade tensions

Copper prices fell on Thursday, as the risk-off move diminished demand on industrial metals after President Donald Trump issued remarks that spooked investors about the US-China trade war.

President Trump said during a visit to Apple factory in Texas on Wednesday that China is not satisfying the US trade negotiators with enough concessions in the trade talks and did not make the required progress.

Stocks and industrial metals also were under downward pressure after a Reuters report that the US and China might not reach a trade agreement until next year.

This indicates that the trade talks are facing hurdles despite the US officials previous statements about progress and flexibility in the talks, as Beijing insists on phasing out the tariffs on its goods, while Trump rejects that.

As for trading, copper futures for December delivery fell by 0.7% to $2.642 per pound as of 14:30 GMT, and hit a session-high of $2.659 and a low of $2.633.