China ordered the United States to close its consulate in the city of Chengdu in response to being told to shut its consulate in Houston.
Meanwhile, U.S. Secretary of State Mike Pompeo called for “more creative and assertive ways” to press the Chinese Communist Party to change its ways.
Read More : MCX Copper Future above 492, Super Bullish Zone Targets Price 525-552–600++ (Copper Supply Shortage)
U.S. unemployment rose last week, suggesting the labour market is stalling amid a resurgence in COVID-19 cases. The global world refined copper market showed a 86,000 tonnes deficit in April, compared with a 3,000 tonnes deficit in March, the International Copper Study Group (ICSG) said in its latest monthly bulletin.
For the first 4 months of the year, the market was in a 59,000 tonnes surplus compared with a 181,000 tonnes deficit in the same period a year earlier, the ICSG said.
World refined copper output in April was 1.98 million tonnes , while consumption was 2.07 million tonnes. Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.6 percent from last Friday, the exchange said.
