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Copper on the LME fell to $5,995 a tonne on Wednesday, according to Reuters.
Copper on the LME fell to $5,995 a tonne on Wednesday, according to Reuters. The drop coincided with continuing indications of softening demand for the metal in China. China is the world’s largest copper consumer, but the nation’s economy remains relatively weak.
Despite an increase in manufacturing output for March, analysts remain unenthusiastic about China’s performance.
Daniel Morgan, analyst at UBS in Sydney, noted the increase was “a very modest pickup, it doesn’t look like a robustly bullish signal.”
Comex copper futures inched up 0.01 percent to $2.75.
