Copper is Now Trading Below $2 Per Pound

Copper prices slipped below $2 per pound on Tuesday. According to the Wall Street Journal, the red metal saw a bit of a bump on Wednesday on the back of strong trade imports from China, but copper prices are still sitting around $1.96 per pound.
As quoted in the publication:

The most actively traded copper-futures contract, for March delivery, was recently trading up 0.55 cent, or 0.3%, at $1.9645 a pound on the Comex division of the New York Mercantile Exchange. That brings it up from a more- than-six-year low in the previous session.
According to Chinese customs data on Tuesday, 530,000 metric tons of unwrought copper and products were imported in December—a rise of 26% year-over-year and the second-highest monthly figure on record.

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