Copper Falls on LME to $7,182 a Tonne

Oct. 02, 2013 04:51AM PST

Copper prices fell in London Oct. 2 to their lowest level in a week.

Copper prices fell in London on today to their lowest level in a week, Reuters reported. Benchmark three-month copper sank to $7,142 a tonne earlier in the session before rising slightly to $7,182 a tonne, marking a drop of $15.80 from yesterday.

The U.S. government shutdown cut risk appetite and the dollar sank to its lowest level since late August today, the source also said.

Copper futures for December delivery were up on the Comex in New York, however. Prices gained $0.90 to $3.28 a pound, The Wall Street Journal reported. A weak jobs report from ADP released today kept copper prices from rising more.

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