LONDON, Sept 8 (.) – Copper fell on Tuesday amid tensions between China and the United States and the strength of the dollar, but prices remained near two-year highs as inventories recorded by the London Metal Exchange They fell to 15-year lows, and speculators were betting on a further advance.
* At 1030 GMT, benchmark copper on the LME was down 1% at $ 6,723.50 a tonne. On September 1, the metal reached $ 6,830 – an increase of more than 50% compared to a March floor – against increased demand from China and after speculative investors raised their bets on higher values to their highest since June of 2018.
* The macro picture looks pretty strong, « said Robin Bhar, independent analyst. » Activity in China is more or less back to normal, and the fourth quarter tends to be a good time for demand and activity from metals « .
* President Donald Trump again raised the idea of separating the economies of the United States and China on Monday, suggesting that his country would not lose money if it ceases to do business with the Asian giant.
* European stock prices fell and the dollar appreciated, making raw materials more expensive for holders of other currencies.
* Copper inventories in warehouses registered with the LME decreased by 1,000 tons to 76,550 tons, the lowest since December 2005.
* To view base metal futures prices:
(Reporting by Peter Hobson; Additional reporting by Mai Nguyen; Edited in Spanish by Janisse Huambachano)