Reuters reported that copper tumbled to a one-month low as the market felt the continued absence of Chinese traders due to the lunar New Year holiday.
As quoted in the market report:
Benchmark three-month copper on the London Metal Exchange (LME), untraded at the close, was bid at $7,960 a tonne, having fallen below the psychologically significant $8,000 tonne to hit its lowest level since Jan. 17 at $7,954 earlier.
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