Copper falls in price as part of a correction after rising prices

The price of copper shows a slight decrease after its growth the day before. Comex data show a correction in the copper market. As of 10:07 am Moscow time, a pound of this metal fell to $4,564, or 0.23%. As a result of trading on Tuesday, copper rose in price by 3.2%. At the auctions in London, it has risen in price by 1.8% to 10061 dollars 50 cents per ton. Prices for other industrial metals also rose. The cost of a ton of aluminum rose to $3,478, or 3.25%. The price of a ton of zinc jumped to $3,746, or 2.18%. The main reason for the rise in of raw materials prices was the aggravation of the geopolitical situation due to Russia’s military operation in Ukraine. There was uncertainty about the supply of industrial metals to the market. Market participants also evaluate the data published in China. The index characterizing business activity in the industrial sector of the Chinese economy rose in February by 0.1 points to 50.2 points.

Source: xCritical.com