Following the announcement late last week by Chairman Ben Bernanke, the reddish metal advanced to its top price in about four months. But the slowdown of the global economy has emerged as a concern, which impacts the reddish metal since it is sensitive to financial and economic developments due to its myriad uses in construction, manufacturing and additional industry.
"The easing news is now behind us and people are refocusing on Europe and the macro picture, which don't look great. So we could see some of the gains (in metals prices) rolled back," analyst Edward Meir with INTL FCStone told the news source.
At 2:11 p.m. on Tuesday, copper futures fell 0.16 percent, a 0.006 cent loss to $3.786 per pound.
Tuesday marks the second consecutive day of losses for copper futures, prompted by concerns about reduced demand, according to The Wall Street Journal.
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