Copper Falls to $6,611.75 per Tonne on China Worries

Three-month copper on the London Metal Exchange fell 0.6 percent or $39.67 to trade at $6,611.75 a tonne on Tuesday, according to Reuters. As an economic slowdown seems only likely to continue in China, the red metal is still feeling the impact of concerns regarding Chinese demand.

Copper for May delivery on New York’s Comex fell 0.1 percent or $0.0025 to trade at $3.0405 a pound on Tuesday, according to The Wall Street Journal. The Chinese yuan hit its lowest level in more than a year, and some investors say this will hurt copper prices by reducing the buying capabilities of Chinese importers.