New York, September 25 news, copper prices fluctuated on Tuesday, the final decline slightly, traders are concerned about the latest developments in the Sino-US trade situation.

COMEX September copper futures contract closed down $0.0125, or 0.4%, to $2.8035 per pound.

Copper prices have rebounded recently after entering the bear market this summer, but they are still well below the four-year highs in June, as the market is worried that Sino-US tariff disputes will weaken the global economy and limit consumption.

China is the world’s largest consumer of industrial metals, accounting for about half of global copper demand.

China and the United States impose new tariffs on each other’s goods on Monday, which is part of the trade dispute between the world’s two largest economies.

People familiar with the matter said that China has withdrawn from the Sino-US trade negotiations scheduled to be held recently, and the prospects for the world’s top two economies to resolve trade disputes have become even more bleak.

On Monday, the State Council Information Office published a white paper entitled “Facts on China-US Economic and Trade Frictions and China’s Position”, which comprehensively and systematically combed China-US economic and trade relations with a large number of facts and detailed data. The white paper emphasizes that the essence of Sino-US economic and trade relations is mutual benefit and win-win, pointing out that what the United States is doing is trade protectionism and trade hegemonism. The white paper clarifies China’s policy stance and fully demonstrates China’s determination and will to promote the rational resolution of the issue, maintain the healthy and stable development of Sino-US economic and trade relations, and firmly uphold the multilateral trading system.

Analysts are also closely watching the dollar’s movements, and the dollar has recently fallen after hitting a 15-month high last month. The weak dollar has made dollar-denominated commodities cheaper for overseas buyers and has helped stabilize the commodity after a summer slump. The US dollar index fell less than 0.1% on Tuesday.