METALS-Copper dips as U.S. prepares more tariffs on Chinese goods [Reuters]
Alcoa Corporation (AA)
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Source: Reuters
METALS-Copper dips as U.S. prepares more tariffs on Chinese goods | Reuters Reuters Staff 3 Min Read * LME/ShFE arb: bit.ly/2wZSAEz * GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Updates throughout, changes dateline from MANILA) By Zandi Shabalala LONDON, Aug 8 (Reuters) - Copper edged lower on Wednesday as the United States geared up to begin collecting tariffs on a further $16 billion of Chinese goods later this month. Benchmark copper on the London Metal Exchange slipped 0.3 percent to $6,157 per tonne by 1006 GMT. The metal used in power and construction rose 0.6 percent in previous session on short-covering and optimism that China will prop up its economy with stimulus measures. The news overshadowed data showing exports from top metals consumer China surged more than expected in July despite U.S. duties. “Copper is still a metal that is suffering under the trade conflict between the U.S. and China,” said Quantitative Commodity Research consultant Peter Fertig. “Any new messag
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