Copper Prices Drop

Copper Prices Drop

THE price of copper yesterday on the international market recorded its weakest since February after concerns over the demand prospects for industrial metals by China.
Similarly, the Kwacha last week closed on a low note as United States (US) dollar demand continued to put the local unit under pressure.
According to Reuters, the price of copper on the London Metal Exchange (LME) hovered near its weakest since February after several gauges of China’s economy including factory output and new loans softened in April, increasing concerns over the demand prospects for industrial metals.
Three-month copper on the LME eased by 0.7 percentage point to US$4,597 a tonne by 0004 GMT, after finishing a tad firmer in the previous session when it dropped as low as US$4,594 a tonne, its cheapest since February 25.

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