Copper hits 2-week high on US-China trade truce

Copper prices rose on Tuesday to their highest level in over two weeks as relief dominated the mood after the extension of the US-China tariff truce with optimism buoyed by a lower dollar following the release of US inflation data.

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Benchmark copper on the London Metal Exchange (LME) was up 1.3% at $9,858 a metric ton at 1614 GMT from a $9,864 a ton earlier, its highest level since July 25.

The 90-day extension of the tariff truce between the world’s two largest economies has eased concerns about trade friction and is expected to support demand ahead of the seasonal autumn import surge for goods such as electronics.