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Three-month Copper Falls to $6,645 per Tonne on China Concerns
Mar. 31, 2014 05:12AM PST
Base Metals Investing
Today, three-month copper on the London Metal Exchange lost 0.2 percent, or $13.29, to trade at $6,645 per tonne. Meanwhile, copper on the COMEX in New York was down $0.013, or 0.4 percent, to $3.0285 a pound.
Today, three-month copper on the London Metal Exchange lost 0.2 percent, or $13.29, to trade at $6,645 per tonne, according to Reuters. Meanwhile, copper on the COMEX in New York was down $0.013, or 0.4 percent, at $3.0285 a pound, The Wall Street Journal states.
China’s credit conditions are making investors wary despite theories that a stimulus program is in the works. ‘The correction (to 3-and-a-half-year lows) was not really driven by fundamentals,” Wiktor Bielski, head of commodities research at VTB Capital, told Reuters. “The second quarter is seasonally strong, stocks are falling, demand has been good and China is making clear it will channel more investment into infrastructure.”
