Three-month Copper sold on the London Metal Exchange fell $54.25 to reach $7,054.50 per tonne on Wednesday, according to Reuters.
Copper has been steadying from last Wednesday’s three-week high, although Asia continues to be a major copper buyer. Orders for U.S. manufactured goods were high as well, and copper continues to ride on U.S. growth.
China has stated it is confident it will maintain a medium-to-high rate of growth, which could improve demand for copper.
Comex copper for September delivery is trading at $3.17 per ounce, a decrease of $0.01, according to CME Group.