Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
Copper rose after a jittery few days for metals as investors track prospects for China’s economy and US monetary policy.
Risk assets are getting a boost from some less hawkish Federal Reserve commentary, and from moves by China to bolster its sinking stock market, which China’s top financial newspapers said would boost investor confidence.
Base metals had drifted lower in recent days, with thousands of industry participants gathered in London for a major annual event. China’s economic slowdown, softer global manufacturing and resilient supplies have featured as key topics during LME Week.
Copper, having dipped below the key threshold of $8,000 a ton at times this week, rose 0.4% on Thursday to $8,053.50 a ton on the London Metal Exchange as of 8:27 a.m. local time. Rising global inventories and fears of higher-for-longer interest rates have weighed on sentiment for months.
Most metals were higher, with nickel up 1.3%. Iron ore climbed 1.7% in Singapore to $114.40 a ton, while steel futures in Shanghai closed slightly higher.
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