Copper Sees Major Decline to $5,353.25 a Tonne

Copper took a major hit on Wednesday, according to Reuters.

The precious metal fell to a five-and-a-half-year low following the World Bank’s forecast for falling global growth in addition to continuing declines in oil prices.

Reuters reported copper fell to $5,353.25 a tonne on the London Metal Exchange – its lowest level since July 2009.

Meanwhile, Investing.com spotlighted copper for March delivery fell 7.9 percent on the Comex to hit $2.434 per pound – a low not seen since June 2009.