Chinese and US Data Negatively Impact Copper Prices

Positive factory production data from China – the world’s largest consumer of copper – could not keep copper prices from falling Nov. 11. A better-than-expected US October jobs report released last week caused continued concerns about Federal Reserve stimulus program tapering, dragging copper prices down today, Reuters reported.

Three-month copper prices sank $9 to $7,156 a tonne on the London Metals Exchange, according to the source.

Copper prices on the COMEX in New York were also lower today, with futures for December delivery falling $0.15 to $3.25 a pound, The Wall Street Journal reported.