Copper Falls to $7,278.50 per MT in London

May. 20, 2013 05:38AM PST

Copper prices fell in London on the back of reports that China may cut its demand for the metal and that the US economy is improving.

Copper prices fell in London on the back of reports that China may cut its demand for the metal and that the US economy is improving, Reuters reported. Three-month copper on the London Metal Exchange fell to $7,278.50 a metric ton, a decline of $30.57.

In New York, copper prices for June delivery hit $3.333 a pound, an increase of $0.01, Dow Jones Newswires reported.

Concern that China, the world’s largest copper consumer, may tighten its monetary policy and lower demand for the metal is weighing heavily on current copper prices.

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