Copper prices fell on Tuesday in response to the continued economic slowdown in China.
Copper prices fell on Tuesday in response to the continued economic slowdown in China. The country is the world’s largest copper consumer, and the metal’s price is tightly linked to China’s economic performance. Copper on the LME fell almost 0.1 percent to $6,079.50 a ton, according to Bloomberg.
Copper’s weak performance came as Chinese lawmakers enacted stimulus packages to boost their flagging economy, according to Investing.com. Despite these efforts, a strong dollar kept copper prices low.
Comex copper futures for May delivery fell 0.4 percent to $2.7695 a pound, Bloomberg reported.