Business

Copper price falls in London and Shanghai for fears of coronavirus

Copper prices were down Wednesday due to fears of the rapid expansion of the coronavirus. At 0712 GMT, three-month copper on the London Metal Exchange (LME) yielded 0.4% to $ 5,662.50 per ton. The most quoted contract on the Shanghai Futures Exchange (ShFE) lost 0.5% to 45,480 yuan ($ 6,485.28) a ton. Copper prices, used as an indicator of economic health, have been affected as China is the world’s largest user of that metal and the main importer of Chilean copper.

Source: Reuters