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Copper Prices Tumble

Published: 18 June 2009
 by Staff
LONDON -- Copper fell for a fifth day on the London Metal Exchange, with speculation that lower prices will further increase stockpiles in China.

This should be a welcome relief for the electronics industry that uses copper as a basic building block to enable conductivity. Recently, prices for copper clad laminate in the region have been increasing, based on increases in copper. Lower prices should provide some relief.

On June 17, copper for three-month delivery fell $20, or 0.4%, to $4,940 per metric ton, from a low of $4880 per metric ton, on June 16. Copper for a July delivery lost 0.7% to $2.243 per pound on the New York Mercantile Exchange’s Comex division.

Analyst Max Layton from Macquarie Bank Group Ltd. in London said, “We expect the price will fall 10% to 15% over the next two months.”
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