Copper Remaining Flat on European Growth Concerns, Global Prospects

Copper futures on the London Metal Exchange were flat at $6,875 per tonne on Tuesday, according to Reuters, as economic concerns in Europe balanced with encouraging prospects elsewhere.

“After a rally during the past few days, we are seeing some traders taking profit off the table this morning,” Avatrade chief market analyst Naeem Aslam told Reuters. “The German IFO Business climate sentiment data released this morning was also disappointing and this is very much weighing on sentiment.”

Copper for September delivery on New York’s Comex dropped 0.13 percent or $0.004 to trade at $3.138 per pound, according to Investing.com.

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