Copper Down to $3.28 a Pound

Copper delivery for July fell to to $3.2805 a pound on the COMEX in New York on May 7, a decrease of about 0.9 percent, Bloomberg reported. That was the second day copper has fallen in New York.

Reuters also reported that three-month copper reached a session peak of $7,374 a tonne earlier today on the London Metals Exchange; however, it was not able to sustain the level and closed at $7,265 a tonne. Reuters noted that prices have dropped this week due to investors waiting for economic data from China, the world’s top metal consumer.