Copper Falls to $7,012/tonne Amid Surplus Fears

Investors remain concerned over growing copper supplies, which weighed on prices for the industrial metal today, as did the improved manufacturing data from the world’s top copper consumer China. Investors are also awaiting new U.S. economic data due out later this week – another factor impacting copper prices today,  Reuters reported.

Three-month copper prices were down $47.78 to $7,012 a tonne on the London Metal Exchange, according to the source.

U.S. copper futures for March delivery hit $3.19 a pound on the Comex in New York, down $0.01 from the previous session, The Wall Street Journal reported.