Copper Down to $6,705 per Tonne

Copper dropped 0.2 percent or $13.41 to $6,705 per tonne on the London Metal Exchange Tuesday, according to Reuters. Trading volume was low after the long holiday weekend in the U.K.

“The market is still trying to find out the direction for copper – but we continue to see support for prices on the dip,” Chief Executive Jonathan Barratt at Barratt’s Bulletin in Sydney told Reuters. “When you look at copper where it is, and the sort of growth we are expecting, then copper certainly is an undervalued play.”

Copper for July delivery on New York’s Comex was up $0.045 or 0.2 percent on Tuesday to trade at $3.0580 per pound, according to The Wall Street Journal.