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Three-month copper on the London Metal Exchange rose to $6,666.75 per tonne, up from Monday’s lows, according to Reuters.
Three-month copper on the London Metal Exchange rose 0.27 percent or $18.00 to $6,666.75 per tonne, up from Monday’s lows, according to Reuters. Buyers took advantage of these low prices Tuesday, driving up the price a bit. However, rising inventories in China accompanied by flat physical demand kept the price under pressure.
“I think it’s a culmination of China worries,” Barclays analyst Gayle Berry told Reuters. “We’ve had a few weak data points coming out of China… and then you have concerns about the financial sector restructuring.”
Copper futures for May delivery on New York’s Comex exchange rose 0.6 percent or $0.018 to $3.049 a pound, according to Investing.com.
