Copper May Drop as Buyers Delay Purchases, According to Survey

Bloomerberg reports that a a survery shows that copper could fall as lower prices encourage consumers to delay purchases and await further declines.

Eleven of 18 analysts, investors and traders surveyed by Bloomberg, or 61 percent, said the metal will drop next week. Five predicted higher prices and two forecast little change. Copper for delivery in three months was down 2.3 percent for this week at $9,730 a metric ton at 4 p.m. yesterday on the London Metal Exchange.

Click here to access the entire market news.