Copper Dips to $6,702 per Tonne on China Economic Worries

Copper fell 0.2 percent or $13.40 to $6,702 per tonne on Tuesday, according to Reuters. The metal’s price is suffering from an unclear future for China’s economic growth, as well as from the euro’s fall against the dollar. Additionally, China is currently on a week-long break from trading and will return on Wednesday.

“The Chinese economy seems to be decelerating and the outlook for demand is uninspiring,” Robin Bhar, an analyst at Societe Generale, told Reuters. “And at the same time we are also seeing rising mine supply.”

Copper on New York’s Comex traded down $0.005 or 0.18 percent at $3.03 per pound, according to Investing.com.