Positive U.S. Economic Data Pushes Copper Down to $7,178 a Tonne

Positive U.S. economic data and a possible Syria strike pulled copper prices down today. Three-month copper prices on the London Metal Exchange fell $22.97 to $7,178 a tonne, Reuters reported.

The encouraging economic data from the United States likely will mean the Federal Reserve will taper its stimulus program soon, the source said. Investors also continue to remain cautious as they await news about possible U.S. military action in Syria.

In New York, copper prices were also down $0.07 to $3.23 a pound, the Financial Post reported.