Copper for March delivery was nearly flat this morning, increasing 0.4 percent, or $29.43, to reach $7,357.25 per tonne.
Copper for March delivery was nearly flat this morning, increasing 0.4 percent, or $29.43, to reach $7,357.25 per tonne. Meanwhile, on New York’s COMEX, copper futures for March delivery declined slightly, sinking $0.002, or 0.1 percent, to $3.36 per pound, The Wall Street Journal said.
Investors are eager to see the minutes from the US Federal Reserve’s latest policy meeting, which will provide information on what the tapering program will look like in the future. Analysts believe the stimulus program has bolstered copper prices in the recent past. Reuters also reported that continued concern about the Chinese economy underperforming is also affecting the copper market — as a major consumer of copper, China has a large impact on the metal’s price.