FX.co ★ Copper Rises on US-China Progress

Copper futures climbed by 1% to approximately $4.63 per pound on Friday, recovering some of the week's earlier declines amid indications of improved US-China trade relations. China showed a willingness to engage in trade discussions with the United States, with a spokesperson from China's Commerce Ministry noting that US officials had made several attempts through appropriate channels to initiate tariff negotiations. Earlier in the week, US President Donald Trump suggested the possibility of trade agreements with India, Japan, and South Korea, while expressing optimism about reaching an accord with China. Despite the recovery seen on Friday, copper remained over 3% lower for the week, pressured by a series of weak U.S. economic data, which heightened concerns about a potential recession. Additionally, tepid manufacturing activity in China and other key economies continued to dampen the demand outlook for industrial metals.