Copper Hovers Near Record High With US-China Trade Deal in Focus

Copper steadied around $11,000 a ton - not far from a record high - following four days of gains, as investors waited to see whether the US and China will finalize a much-anticipated trade deal.

Negotiators from the world’s two largest economies said they have struck agreements on issues including tariffs and export controls to be unveiled at a summit in South Korea later this week. This shift toward deal-making has brightened the demand outlook for copper at a time when supply has also tightened.

However, with details of any trade agreement still vague, the industrial metal — used in ...