Comex copper price falls

By MINING.com Editor / October 14, 2016 / www.mining.com / Article Link

Copper for December settlement on the Comex division of the NYMEX closed Thursday down 5.45 cents or 2.5% to $2.1220 per pound. Earlier, the contract slid to $2.1165 per pound, the lowest since September 13.

The red metal's performance has been lacklustre managing only a 2.2% gain in 2016, following a drop of 26% last year.

The recent fall is the consequence of China's September trade data, which showed a decline of 10% in exports compared to the previous year. Analysts worry about the health of the world's No.2 economy and biggest user of metals.

China's copper imports fell to 340,000 tonnes in September from 350,000 tonnes in August. Its concentrate imports declined last month by 4.1% to 1.39 million tonnes.

On the London Metal Exchange, three-month copper declined 0.8% to $4,776 a tonne, after ending flat in the previous session.

Recent News

Gold's Bull Market Pullbacks

April 28, 2025 / www.canadianminingreport.com

Gold stocks down on metal drop

April 28, 2025 / www.canadianminingreport.com

Investment banks ahead of the gold price, institutions still behind

April 21, 2025 / www.canadianminingreport.com

Gold stocks up, juniors outperform on small cap strength

April 21, 2025 / www.canadianminingreport.com

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok