LME copper closes higher Watch for the resumption of trade talks between China and the United States this week

Copper prices fell for a third straight week last week as weak economic data raised concerns that
a trade war would hit global growth.

Officials from the world's two largest economies will meet
in Washington on October 10-11.
Caroline Bain, senior commodities economist at Capital Economics, said: "Given last week's announcement, it's hard to be optimistic
about a deal.
Caroline Bain added that we have been in this situation before, and before the negotiations, people were always optimistic, but nothing was actually achieved
.

LME copper warehouse receipts fell 675t to 194,200 mt, up 33,000 mt
last week.
LME spot copper rose to US$35 per tonne from a three-month copper discount, the highest level since August 2018, indicating ample
supply.

Hedge funds and fund managers increased their net short positions in COMEX copper by 10,086 contracts to 62,741 contracts in the week ended October
, according to the U.
S.
Commodity Futures Trading Commission (CFTC).

Copper prices have been affected by a balance between falling supply and weaker global demand, especially in China
, the largest consumer of copper.

Data showed that the unemployment rate in the United States fell to 3.
5% in September, near a 50-year low, and metal prices rose
.
Chile's copper production in August fell 0.
4% year-on-year to 3.
76 million mt
, Chile's National Copper Council Cochleo said this week.
Chile's National Copper Company (Codelco) saw a 9.
3% year-on-year increase in August to 154,700 mt, but total production in the first eight months of 2019 fell 8.
4% y-o-y to 1.
06 million mt
.