Lackluster Chinese Demand Hinders Copper

Reuters reported that worries about Chinese demand brought copper down on Friday. Subdued demand from China, the world’s top copper consumer, has also left copper set to fall for three of the last four weeks.

As quoted in the market news:

Three-month copper on the London Metal Exchange, untraded at the close, was last bid at $8,125 a metric tonne, reversing small gains in the previous session when prices rebounded after hitting their lowest in two weeks at $8,105 a tonne.

Copper has drifted in a range of about $8,100-$8,400 a tonne for the past month as investors refocused on underlying demand amid sluggish global growth after the excitement of central bank stimulus measures that sent prices up around 10 percent.

Click here to read the full Reuters report.