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Copper Drops

Copper DropsCopper Drops

London copper struck its lowest in almost a month on Monday after the dollar withstood a weaker US jobs report that largely kept rate hike expectations intact, Reuters reported. Also, China’s copper imports dropped from record levels in April, further souring sentiment towards metals. Three-month copper on the London Metal Exchange traded down 1.6% at $4,732.50 a ton, having struck its lowest since April 12 at $4,720 a ton. Copper shed 4.8% last week for its biggest weekly drop since November. A break of support at the 100-day moving average at $4,716 could set off more sales.

Financialtribune.com