Copper experiences sharp fall after China GDP data

Source: Investing.com
© Scanpix/Reuters
On Tuesday prices for copper declined after China GDP data was released. China is the largest copper consumer in the world, accounting for approximately 40% of global consumption. During 2014 Chinese economy expanded at the slowest rate for the last 24 years, pushing down copper futures by 4.9 cents to $2.568 per pound, rebounding from the low of $2.563 during the trading session. In the previous day copper lost only 2.5 cents and settled at $2.591 per pound, compared to the six-year low of $2.423 a week ago.
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