Copper Price Falls to $5,940 a Tonne

Copper on the LME was down 0.8 percent on Tuesday and hit $5,940 a tonne, according to Reuters. Investors moved away from the metal ahead of China releasing economic growth data.

China is the world’s largest copper consumer, and the metal’s price is tightly linked to the country’s economic performance. China’s economy grew 7.4 percent in 2014, and Investing.com anticipates the country’s growth rate will slow to around 7 percent for the first quarter of 2014.

Comex copper fell 1.28 percent to $2.684, according to Investing.com.