Copper Down $18 on Falling Ruble, Increased Production From China

The copper price fell on Wednesday, according to Reuters. The price of copper on the London Metal Exchange decreased $18 to reach $6,344 per tonne.

This continues losses from the previous session, and was attributed to increases in Chinese output and significant declines in the Russian ruble. China has been lifting production of refined copper, and some experts believe economic turmoil in Russia could lead the nation to do likewise.

Meanwhile, copper on the Comex fell by 0.61 percent to reach $2.8410 per pound.