Copper Prices at $6,988.75 a Tonne, Steady Compared to Last Week’s Lows

Copper prices were down $21.25 on November 18 from the previous session at $6,988.75 a tonne on the London Metal Exchange.

Last week the metal fell to a three-month low of $6,940 a tonne. China unveiled new economic and social reforms on November 15, which could help boost the economy of the world’s largest copper consumer, Reuters reported. However, copper prices were still weighed down today due to expectations the world copper supply will grow.

Copper futures on the Comex in New York actually rose slightly $0.004 to $3.176 a pound earlier in the session, Investing.com reported.