Copper Falls on Talk of Indonesian Resolution

Three-month copper on the London Metal Exchange dropped 0.9 percent or $61.80 on Tuesday to trade at $6,867 per tonne, according to Reuters. Indonesia could restart concentrate exports of the metal soon, and a Chinese port has halted shipments, both of which are concerning to investors.

“I think there are two or three bearish signals that are beginning to emerge in the market,” analyst Vivienne Lloyd at Macquarie told Reuters. “One thing is that we’re now easing off the heavy demand period in China. And it does begin to seem that a resolution will be found soon in Indonesia.”

Copper futures for July delivery fell 1.12 percent or $0.035 to trade at $3.135 a pound on New York’s Comex, according to Binary Tribune.