copper drops for 4th day as trade worries persist

“Copper prices are still struggling to find a direction as trade negotiations will take a long time … Meanwhile more smelting capacity in China is expected to be launched if the market agrees to hike treatment and refining charges,” said analysts from CITIC Futures in a note in Mandarin.

Three-month copper on the London Metal Exchange fell 0.8 per cent to $6,142 a tonne by 0132 GMT, extending losses from the previous session. The most-traded copper contract for February delivery on the Shanghai Futures Exchange dipped 0.7 per cent to 49,100 yuan ($7,163.07) a tonne.

 

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