Copper Price Falls Further on the LME

Copper on the London Metal Exchange dropped to $5,943 a tonne, Reuters reported. According to The Financial Times, investors are timid of the metal’s falling prices and decreasing demand from China, the world’s largest producer and purchaser of copper. This has opened up discussion as to how much demand there is, and at what point will it outweigh the supply.

“The real concern is that under the current project development environment we may see projects failing to keep pace with copper demand altogether,” Piotr Ortonowski, analyst at CRU commodity market consultancy, said to The Financial Times.

Copper on the Comex dipped 0.16 percent below yesterday’s close to reach a one-week low of $2.69 a pound, as noted by Investing.com.