U.S. Dollar Weighs Copper Down to $6,957.50 LME

After a two-week high, copper prices for delivery in three months slipped $20.87 to hit $6,957.50 a tonne on the London Metal Exchange July 2. This loss was attributed to a stronger U.S. dollar and the concerns of investors regarding the economic prospects in China, a top consumer of copper.

“Concerns that China’s growth is slowing persist, leading to some profit-taking after the gains yesterday,” Xu Liping, an analyst at HNA Topwin Futures Co., told Bloomberg.

Meanwhile, on the Comex in New York, copper futures for September delivery dropped $0.01 to $3.15 a pound.