{"id":416,"date":"2018-12-06T13:14:06","date_gmt":"2018-12-06T13:14:06","guid":{"rendered":"http:\/\/commodity-trading.campus.local\/commodity-trading\/?p=416"},"modified":"2018-12-06T13:16:14","modified_gmt":"2018-12-06T13:16:14","slug":"copper-bulletin-n3-the-adventures-of-tariff-man","status":"publish","type":"post","link":"https:\/\/campus.hesge.ch\/commodity-trading\/copper-bulletin-n3-the-adventures-of-tariff-man\/","title":{"rendered":"Copper Bulletin N\u00b03 &#8211; The Adventures of Tariff Man"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignnone wp-image-421 size-large\" src=\"http:\/\/commodity-trading.campus.local\/commodity-trading\/wp-content\/uploads\/2018\/12\/forward-curve-5-dec-781x1024.png\" alt=\"\" width=\"525\" height=\"688\" srcset=\"https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/forward-curve-5-dec-781x1024.png 781w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/forward-curve-5-dec-229x300.png 229w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/forward-curve-5-dec-768x1007.png 768w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/forward-curve-5-dec.png 1079w\" sizes=\"(max-width: 525px) 100vw, 525px\" \/><\/p>\n<p>During last weekend\u2019s G20 summit, the US President, Mr Trump and the Chinese President Xi Jinping agreed on a 90-day ceasefire in their damaging trade dispute. Trump decided not to increase its tariffs to 25% starting on January 1st and but to keep them at 10% till March 1st.<br \/>\nOn Monday and thanks to to this agreement, the copper cash price first rose from 6,237$ to 6,306$ but decreased significantly the next to days to reach 6,161$, its lowest in a week, following Mr Trump\u2019s comments that he will revert to tariffs if the two side cannot resolve their problems before the 90-days truce ends as well as its comment on twitter that he is a \u201cTariff Man\u201d.<\/p>\n<p>If you want to know more about tariff man, please press play :<\/p>\n<p><iframe loading=\"lazy\" width=\"525\" height=\"295\" src=\"https:\/\/www.youtube.com\/embed\/15_A511X3Ks?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Therefore, what was supposed to be a good news was received by a significant amount of worries by the market which still doubts about a the possibility to see a trade resolution soon. Moreover, in order to secure the 90-day ceasefire between the two countries China agreed to a number of additional commitments.<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-420 size-full\" src=\"http:\/\/commodity-trading.campus.local\/commodity-trading\/wp-content\/uploads\/2018\/12\/price-5-dec.png\" alt=\"\" width=\"845\" height=\"664\" srcset=\"https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/price-5-dec.png 845w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/price-5-dec-300x236.png 300w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/price-5-dec-768x603.png 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/p>\n<p>China agreed to purchase a \u201cvery substantial\u201d amount of agricultural, energy, industrial and other products to reduce the bilateral trade imbalance. However, the exact amount has not yet been agreed.<br \/>\nNevertheless, the cease-fire helped to reestablish the usual relation between the cash and the 3-month prices. Historically, a higher 3-month price compared to cash price has always been observed as copper is generally traded using 3-month contracts and also for carriage reasons. However, these last weeks, the trend switched and the cash price was traded with a premium relative to the 3-month prices. This situation was due to the unpredictable decisions President Trump could have made, consequently, people were rushing and settled price for direct delivery. With the 3 months truce, we believe that the market will experience a \u201ctemporary stability\u201d.<\/p>\n<p>To secure the 90-day ceasefire between the 2 countries and the of Mister Trump, China agreed to a number of additional commitments.<br \/>\nChina agreed to purchase a \u201cvery substantial\u201d amount of agricultural, energy, industrial and other products to reduce the bilateral trade imbalance. However, the exact amount has not yet been agreed.<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-419 size-full\" src=\"http:\/\/commodity-trading.campus.local\/commodity-trading\/wp-content\/uploads\/2018\/12\/inventory-lvl-5-dec.png\" alt=\"\" width=\"999\" height=\"673\" srcset=\"https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/inventory-lvl-5-dec.png 999w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/inventory-lvl-5-dec-300x202.png 300w, https:\/\/campus.hesge.ch\/commodity-trading\/wp-content\/uploads\/2018\/12\/inventory-lvl-5-dec-768x517.png 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/p>\n<p>Regarding the inventory, the LME warehouse level remain low (As shown in the graph). No big change since beginning of November. The offer and the demand are therefore meeting quite well. The price did not experience any big variation due to the inventory.<\/p>\n<p>http:\/\/www.china-briefing.com\/news\/us-china-trade-truce-90-days-g20-summit\/<br \/>\nhttps:\/\/finance.nine.com.au\/2018\/11\/30\/07\/46\/copper-gains-but-trade-thin-ahead-of-g20<br \/>\nhttps:\/\/www.cnbc.com\/2018\/12\/02\/dow-futures-surge-after-trump-and-xi-agree-to-pause-the-trade-war.html<br \/>\nhttps:\/\/www.cnbc.com\/2018\/11\/30\/reuters-america-metals-copper-steady-as-all-eyes-turn-to-g20-meeting.html<br \/>\nhttps:\/\/uk.reuters.com\/article\/global-metals\/corrected-metals-copper-eases-on-soft-china-data-ahead-of-g20-meeting-idUKL4N1Y53KI<br \/>\nhttp:\/\/www.infomine.com\/investment\/warehouse-levels\/copper\/1-month\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During last weekend\u2019s G20 summit, the US President, Mr Trump and the Chinese President Xi Jinping agreed on a 90-day ceasefire in their damaging trade dispute. Trump decided not to increase its tariffs to 25% starting on January 1st and but to keep them at 10% till March 1st. On Monday and thanks to to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/campus.hesge.ch\/commodity-trading\/copper-bulletin-n3-the-adventures-of-tariff-man\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Copper Bulletin N\u00b03 &#8211; The Adventures of Tariff Man&#8221;<\/span><\/a><\/p>\n","protected":false},"author":116,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/posts\/416"}],"collection":[{"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/users\/116"}],"replies":[{"embeddable":true,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/comments?post=416"}],"version-history":[{"count":4,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/posts\/416\/revisions"}],"predecessor-version":[{"id":690,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/posts\/416\/revisions\/690"}],"wp:attachment":[{"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/media?parent=416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/categories?post=416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/campus.hesge.ch\/commodity-trading\/wp-json\/wp\/v2\/tags?post=416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}