Copper Recovers Slightly From Yesterday’s Losses

Three-month copper on the London Metal Exchange rose 0.4 percent or $27.47 to trade at$6,868 per tonne on Wednesday, according to Reuters. However, prices are still near a one-month low as investors are worried about growth in China. These fears have also been spurred by a drop in copper prices yesterday.

“Clearly the market was taken aback by the severity of the move yesterday afternoon, that was quite a sharp move and the fear is that there are some unpleasant economic data releases going to be coming out of China over the next few days,” Nic Brown, head of commodities research at Natixis, told Reuters.

Copper on New York’s Comex fell 0.09 percent or $0.03 on Wednesday to trade at $3.099 per pound, according to Investing.com.