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Chinese Inflation Data Pushes Copper Down to $6,645 per Tonne
Oct. 15, 2014 10:06AM PST
Base Metals Investing Copper took a dip on Wednesday following a two-week peak thanks to a positive outlook regarding China.
Copper took a dip on Wednesday following a two-week peak thanks to a positive outlook regarding China.
Reuters reported that copper on the London Metal Exchange fell 2.3 percent to $6,645 a tonne. The decline was attributed to a stronger U.S. dollar, Chinese inflation figures and a dreary outlook in the euro zone.
The Comex also experienced turbulence due to economic worries over China, as copper for December delivery was trading at $3.074 a pound, marking a decline of 0.52 percent or 1.6 cents.
