LME Copper Price Slips Ahead of Jobs Data

Copper dipped 0.47 percent to $6,011.50 on the LME, according to Reuters, as investors prepared for the announcement of key US economic data that could indicate the likelihood of a Federal Reserve interest rate hike. Investing.com noted that strong data would push investors toward interest-paying assets that would be profitable following a rate hike.

While positive US jobs news would probably drive the price of copper down, it’s possible that recent economic stimulus in China, the world’s largest copper consumer could push up prices, according to Investors Business Daily.

COMEX copper was down 0.29 percent at $2.73 a pound.