Copper prices drop to 17-year low – S A N A



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London-Sana

Copper prices fell to their lowest level in more than 17 years, weakening the outlook for demand.

Standard copper futures ended the session on the London Metal Exchange, down 1.1%, to $ 5,765 per tonne, close to the two-year lows or $ 5,640, reached earlier this month.

Among the other industrial metals, the nickel contracts ended the session, up 0.2% to $ 15,950 per tonne, or nearly $ 16,690, the highest level in 16 months, on the market. Assuming that Indonesia, the largest supplier of crude oil, would soon restrain its exports.

Aluminum futures closed down 0.6% to $ 1,775 per tonne, while zinc contracts fell 2.7% to $ 2,256 per tonne, while Lead contracts also declined 1.3% to $ 2,041 per tonne.

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