Copper Prices Fall for Second Day


Copper prices are down for a second day following news that Chinese copper output is rising.

High-grade copper futures fell 7.5 cents, or 2.3 percent, to $3.159 a pound, its lowest price since early August.

China’s output of refined copper rose 23 percent compared with a year ago, according to Bloomberg News, as Chinese mines continue to increase output. China is the world’s second-largest copper producer.

The increasing supply of copper on the global market has pushed prices lower for months. The metal is down 13 percent so far this year.

Other metals were also lower. Gold fell $2.80 to $1,268.40 an ounce, and silver was down 33.6 cents to $20.442 an ounce.

Platinum fell $7.60 to $1,432 an ounce, and palladium fell $6.90 to $735.45 an ounce.

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