Copper dropped as concern is mounting over global economic growth.
Copper yesterday settled down by -0.23% at 739.15 as concern is mounting over global economic growth, with a plunge in U.S. consumer confidence. There is still a slower than expected recovery in Chinese demand during a time that is meant to be the busiest construction period of the year. China’s cabinet issued a plan to stabilize its trade sector as subdued global demand threatens its export outlook. On-warrant copper stocks in LME-registered warehouses rose by 2,750 tonnes to 59,775 tonnes on Wednesday to reach their highest since Jan. 13.