Copper Pulls Back Amidst Cyprus Turmoil

Reuters reported that copper was sent tumbling due to investors’ worries about the financial crisis brewing in Cyprus; however, positive Chinese data helped prop the metal up.

As quoted in the market news:

Three-month copper on the London Metal Exchange, untraded at the close, was last bid at $7,590 a tonne from a close of $7,620 on Wednesday. It is still comfortably off the seven-month low of $7,486.25 hit on Tuesday.

To view the whole Reuters report, click here.