In New York, however, the red metal was that lucky, falling for the first time in three days as London traders caught up after a two-day holiday.
Three-month copper on the London Metal Exchange traded at $7,365 a tonne, up 1.3% since hitting $7,410 last August.
Copper prices are on track reach an almost 5% increase this month, which would be their biggest monthly gain since September 2012. However, they still remain 7% lower in the year to date.
On the Comex in New York, copper for delivery in March plunged 0.5% to $3.3815 a pound by 8:40 am ET.
Dr. Copper, as investors call the industrial metal, is usually a good indicator for economic trends and equity markets.
Image by Ehrman Photographic
Comments
Mike Failla
Yes indeed! Good for our Arizona miners!