Copper Prices Drop to $5,783 on the LME

Copper prices on the London Metal Exchange dropped 0.28 percent, reaching $5,783.50, according to Investing.com. Copper prices also fell on the Comex by 0.11 percent to trade at $2.62 a pound, according to a separate report from the news outlet.

The dip followed news that China’s factor output was less than expected in the first two months of the year. This put pressure on policymakers to introduce broad-based stimulus measures.

China is the largest consumer of copper in the world, accounting for nearly 40 percent of the world’s consumption last year.