Copper Relatively Steady at $6,476 per Tonne

Copper for three-month delivery on the London Metal Exchange today dropped 0.1 percent to trade at $6,476 per tonne, according to The Wall Street Journal. Meanwhile, copper for May delivery on New York’s COMEX edged slightly higher, rising 0.3 percent, or $0.01, to trade at $2.9605 per pound, as per another article from the news outlet.

While disappointing Chinese data has given traders pause, there is an increasing belief that the People’s Bank of China may step in to boost the country’s economy. “Evidently, market participants are hoping that China will counter the threat of economic downturn by launching stimulus programs in a bid to prevent the economy from sliding,” analysts at Commerzbank AG told The Wall Street Journal.