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Copper on the LME dropped 0.8 percent Tuesday to reach $6,328 a tonne, according to Reuters.
Copper on the LME dropped 0.8 percent Tuesday to reach $6,328 a tonne, according to Reuters. A strong dollar pushed prices down, but burgeoning demand from China, the world’s largest copper consumer, could push prices back up.
Analysts predict Chinese copper consumption could rise as much as 5 percent this year, and a growing number of market watchers are expecting supply to tighten as production declines at several mines worldwide.
Comex copper futures declined 2.36 percent to $2.84 a pound according to MarketWatch.
