Rising Dollar, Falling Copper

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.