Benchmark LME Copper Sinks to $7,190 per Tonne

Today, benchmark copper on the London Metal Exchange dropped $50 from the previous session, hitting $7,190 a tonne, Reuters reported. On the COMEX in New York, copper futures for December delivery fell $0.04, to $3.26 a pound, as per The Wall Street Journal.

Copper’s decline today was due in part to a falling US dollar and concerns over China’s demand for the metal. A declining euro also impacted prices for the red metal, Reuters said; investors are worried that the European Central Bank could loosen its monetary policy in the near future.