Copper prices have suffered due to slowing economic growth as well as China’s decline in demand as the country’s inventories reach a 10-year high. Bloomberg reported prices for copper are the lowest in almost three years.
On the London Metal Exchange, copper prices for delivery in three months fell June 24 to $6,677, a decline of $140.22. On the Comex in New York, copper saw a similar drop, falling $0.075 to $3.022 a pound. According to Bloomberg, trading volume was nearly double the average of the past 100 days in New York.