Declining Chinese Economy Drops Copper to $5,760 Per Tonne

A softening Chinese economy is still dampening investor interest in copper futures, as the metal declined 1.5 percent to $5,760 per tonne on the London Metal Exchange, Reuters reported.

Though hopes of monetary easing in China drove copper prices up on Monday, concern regarding weak economic data dragged the metal down during Tuesday trading. The effect of China’s economy on the metal was compounded by the two-day Federal Reserve meeting that began on Tuesday. Investors anticipate the meeting will signal a move toward the first key funds rate hike since 2006.

Comex copper for May delivery fell 1.93 percent to trade at $2.616 a pound, according to Investing.com.