The economy of the Asian nation, as the globe's top consumer of the reddish metal, is projected to bounce back from the various hiccups it has endured thus far this year. Analysts project those climbs to occur later this quarter or early during the fourth quarter of the year. Copper is sensitive to economic and financial developments worldwide due to its wide usage in construction, manufacturing and other industry.
"After a massive move upwards it's not unrealistic to see something of a correction and the market is again having another look at what is going on fundamentally, and it's not as positive as what the market thought last week," analyst Eugen Weinberg with
Commerzbank told Reuters.
At 9:20 a.m. on Monday, copper futures dropped 0.49 percent, a 0.0165 cent loss to $3.351 per pound.
But Bloomberg reports Monday's losses were correlated to the prospect of Chinese demand for copper being on the wane.
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