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Copper prices fell on Tuesday, as a stronger dollar however the metal was buoyed by positive data from China.
Copper prices in London were down August 3 due to a stronger dollar, however, positive economic data from China buoyed the red metal’s descent, stopping it from travelling any lower. On the London Metal Exchange, th copper was down $26 to $7,214 a tonne, according to Reuters.
Also of note, Bloomberg reported a surge in copper production will exceed demand for the metal next year and likely cause copper prices to fall to a low of $6,800 a tonne by December.
