Copper Price Dips Following Two Month High

Copper on the London Metal Exchange fell 0.7 percent on Wednesday to $6,100 a tonne, according to Reuters. The dip comes after the metal reached two-months highs the previous session.

The dollar dropped to two-week lows on Wednesday, which sparked European investor confidence. Additionally, demand from China is beginning to pick up after being slow since the country’s Lunar New Year in February. China is the largest consumer of copper.

According to MarketWatch, copper on the Comex dipped slightly by 0.3 percent, reaching $2.79 a pound.