Mixed News for Copper on Drop to $6,652 per Tonne

Copper for delivery in three months on the London Metal Exchange fell 0.3 percent or $19.96 to $6,652 per tonne, according to Bloomberg Businessweek. Stockpiles of the metal are at their lowest since November 2012.

On New York’s Comex, however, the most actively traded copper contract was for May delivery, rising 0.3 percent or $0.009 to $3.049 a pound, according to The Wall Street Journal.

“The retail sales data today was certainly supportive,” Bill O’Neill, a principal at Logic Advisors, told the Journal. “Longer term, it is beginning to seem that the demand for copper will be somewhat better than expected.”