Copper Falls on Profit-Taking

CNBC reported that three-month copper prices fell 1% as low crude oil prices urged investors to profit-take.

As quoted in the market news:

On Monday, LME copper prices notched their biggest daily drop in a month as financial markets fell across the board on profit-taking after last week’s gain boosted by hopes that the Fed stimulus will boost U.S. economic growth.

Three-month copper on the London Metal Exchange closed down 1 percent at $8,302 per metric ton, after touching a high of $8,386.25 – near the 4-1/2-month top of $8,411 hit in the previous session.

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