Copper Prices in London Touch Lowest Levels in a Week

Copper prices dipped to a one-week low during trading on the London Metal Exchange on Thursday, pressured by a stronger U.S. dollar and rising concerns over global growth amid escalating geopolitical tensions between Israel and Iran.

The most actively traded copper futures on the London Metal Exchange fell by 0.35% to $9,620 per ton as of 12:28 PM Mecca time, after touching $9,608 earlier — the lowest level since June 13.

The U.S. Dollar Index — which measures the greenback’s performance against a basket of six major currencies — stood at 98.93 points, after reaching 99.16 during the session.

Data released on Wednesday showed that copper inventories at the London Metal Exchange fell by 4,025 tons to 103.32 thousand tons, the lowest level in over a year