Business

Price of copper signals recovery

MINERS processing copper at one of the mines on the Copperbelt.

KALONDE NYATI, Lusaka
THE price of Zambia’s main source of export earnings, copper, has signalled recovery due to relaxed tariffs under the United States (US)-China trade wars.
Tariffs have proved not to be as costly as expected with China to levy tariffs on about US$60 billion worth of US goods in retaliation for US tariffs on US$200 billion worth of Chinese goods.
Duties have been set at 10 percent for now and are expected to rise to 25 percent by the end of the year as opposed to imposing the 25 percent immediately.
According to Reuters the price of copper on the London Metal Exchange (LME) traded at US$6,118 a tonne in the early hours of yesterday, holding a half-percent gain from the previous session.http://epaper.daily-mail.co.zm/

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