Copper Prices Steady at $7,287 a Tonne in London

Copper prices in London fell, but only slightly in comparison to other metals. Three-month copper prices on the London Metal Exchange were at $7,287 a tonne, down $3 from the two-month high of $7,290 a tonne seen yesterday, Reuters reported.

A near-term shortage of the industrial metal has helped to boost copper prices recently, as has an increase in global factory activity, the source said. The expectation the U.S. Federal Reserve will announce a tapering plan tomorrow for its stimulus program is also helping copper prices at the moment.

On the Comex in New York, copper futures for March delivery were unchanged at $3.33 a pound, the Canadian Press reported.