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    copper investing

    Copper Falls on Ukraine Crisis, China Data

    Investing News Network
    Mar. 03, 2014 03:35AM PST
    Base Metals Investing

    Three-month copper on the London Metal Exchange fell nearly 1 percent, or $69.50, to $6,950 per tonne in early morning trade, its lowest since early December.

    Three-month copper on the London Metal Exchange fell nearly 1 percent, or $69.50, to $6,950 per tonne in early morning tradeĀ on March 3, its lowest since December 3, according to The Wall Street Journal.

    Base metals are considered growth-sensitive assets, when compared to the safe haven of precious metals, and are thus more susceptible to negative fluctuations in times of increased geopolitical tensions.

    ā€œDevelopments in Ukraine could further rattle nervous markets and signal a spike in the geopolitical risk premium,ā€ Tina Fordham, an analyst at Citigroup, told the Journal.

    Meanwhile, China’s manufacturing data hit an eight-month low in February, according to reports released over the weekend, further depressing the price of copper.

    Copper for May delivery on New York’s Comex dropped 0.45 percent or $0.014, to trade at $3.173 per pound, according to Investing.com.

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