Copper Slips for First Time in Four Sessions

Three-month copper on the London Metal Exchange dropped 2.2 percent or $150.38 to trade at $6,835.50 per tonne in London, according to Bloomberg, marking its first decline in four days. Furthermore, Societe Generale initiated a short copper position yesterday, according to Reuters. The organization recommends shorting the December LME copper contract when levels are at about $6,900 per tonne, though its target price is $6,500 per tonne or lower.

Copper futures for December delivery on New York’s Comex fell 2.1 percent to trade at $3.1035 per pound, Bloomberg reported.