Copper Declines Again to Reach $6,302 per Tonne

Copper continued its decline on Wednesday, decreasing 0.44 percent to reach $6,302 a tonne on the London Metal Exchange, according to Reuters.

This fall was attributed to a strengthening U.S. dollar, weak oil prices and continued worry over copper demand from China. In the U.S., lower-than-expected jobless claims, combined with strong economic growth, have weakened precious metals. Meanwhile, with China being one of the world’s largest copper consumers, fluctuations in demand have led to widespread worry over the precious metal.

Copper on the Comex was down $0.019 or 0.66 percent to reach $2.847 per pound, according to RTTNews.