LONDON: Copper rose for a fifth straight session on Monday, with hopes of a resolution to the US-China trade war outweighing the threat of higher US tariffs on Chinese goods.
Three-month copper on the London Metal Exchange
ended 0.9 percent higher at $6,259 a tonne, having gained 2.5 percent last week.
"Metals could benefit from a possible truce in the US-China trade war during the upcoming G20 summit," said JP Morgan analyst Natasha Kaneva, adding that she considered spot contracts to be undervalued by about 10 percent.
TRADE: US President Donald Trump last week said China was willing to take steps to resolve the prolonged US-China trade conflict, but Vice President Mike Pence said on Saturday that the United States might double its tariffs unless Beijing bows to US demands.
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