Industrial metals prices gain as global trade war fears fade

Trump administration officials are asking China to cut tariffs on imported cars

Industrial metals prices rose on Tuesday after reports of behind-the-scenes talks between the US and China fuelled hopes that a trade war could be averted and sparked a global stock market recovery.

Benchmark copper on the London Metal Exchange did not trade in official rings but was bid up 1.3 per cent at $6,687 a tonne, after touching a 3-1/2-month low on Monday.

“Copper is trying to react to the improved sentiment in the stock market (and) reduced fears about global trade tensions,” said Saxo Bank analyst Ole Hansen. But he said prices were unlikely to rally far. “With inventories on the