BDI 0.00% 0.1¢ blina minerals nl

Ann: Trading Halt, page-13

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    Kitco News


    * GRAPHIC-2019 asset returns:
    * GRAPHIC-Copper technicals:
    (Adds graphic, updates with closing prices) By Eric Onstad LONDON, Feb 22 (Reuters) - Copper prices climbed to their highest since July on Friday as inventories tumbled and investors bet on a U.S.-China trade deal. Optimism over a trade deal has been rising as top U.S. and Chinese trade negotiators haggle over the details of a set of agreements aimed at ending their trade war. "Copper is getting a lot of momentum from the trade talks. If we get a deal, there wouldn't be much obstacle for copper to return to the low $7,000s," said Gianclaudio Torlizzi, partner at consultancy T-Commodity in Milan. Benchmark copper on the London Metal Exchange has broken the key level of $6,400 a tonne, which marks the upper boundary of a range that has held for the past six months, he added. "If this confirmed today on the weekly chart with a close above $6,400, it would mark the start of new bull cycle for copper." 



    LME copper gained 1.6 percent in closing open outcry trading to $6,478 a tonne, its highest since July 4. The metal, widely used in construction and manufacturing, posted a 4.6 percent gain this week, its biggest weekly jump since the week ended Sept. 21 last year.



    * COPPER STOCKS: On-warrant LME copper inventories , those not earmarked for delivery, slumped by nearly half to 39,800 tonnes in one day, the lowest since August 2005, LME data showed on Friday. 

    Reuters
 
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