Copper Prices Slide to Lowest in Five Years

Copper prices fell below $6,000 per tonne for the first time in over five years, Bloomberg reported. The metal fell to as low as $5,966 on Monday, but was back up to $6,007 by 2 p.m., London time. Outlook for slower growth from China and a broader pressure on commodities are contributing to bearish sentiment for the red metal.

As quoted in the publication:

Growth in China, which accounts for about 45 percent of demand, will slow to 7 percent in 2015 from 7.4 percent last year, according to economist estimates compiled by Bloomberg. This year’s expansion will be the weakest since 1990.

Click here to read the full Bloomberg article.