Copper Falls to $7,040 a Tonne as China Worries Persist

Today, three-month copper on the London Metal Exchange fell 0.49 percent, or $34.50, to $7,040 a tonne, according to Reuters. Meanwhile, copper futures for May delivery on the COMEX dropped 0.65 percent, or $0.02, to $3.219 per pound, as per Investing.com.

Those numbers mark a second day of losses, as the metal fell 1.1 percent in the previous session. Copper is suffering from concerns about inventories in China, Reuters notes.

“Given that the type of companies that are doing these finance deals are often one way or another linked to the property market themselves, if you get a big problem in the property market it might mean the unravelling of some of these deals,” Stephen Briggs, metals strategist at BNP Paribas told the news outlook.