Copper falls to a five-year low in spite of China trade data

Source: Investing.com
© Scanpix/Reuters
Prices for copper declined on Tuesday, falling to the lowest level in the past five years amid the world's largest copper consumer, China, failing to boost sentiment after the trade data release. Copper futures for March hit a low of $2.676 per pound, the lowest since 2009, afterwards trading at $2.680. On the previous day copper slid 2.9 cents and settled at $2.725 per pound, whereas Chinas's import accounted for 420,000 tons in December. Domestic demand weakened, as import prices increased by 2.4%, slightly less than a forecast.
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