In New York, the key May COMEX contract plunged by 12.20 cents or over 3 percent to settle at $3.7375 per lb on Tuesday, near the bottom end of its $3.7365 to $3.8830 session range. Volumes stood near 65,000 lots in late New York business - largely in line with the 30-day moving average, according to preliminary Thomson Reuters data.
Copper was still up about 9 percent on the year, but analysts expect prices to correct further from their "over-extended" levels.
Comments
Comments are closed.