- Published: Wednesday, 16 April 2014 15:54
- Written by Steve Fiscor
During March, copper prices dropped to $6,667 per metric ton (mt, $3.01/lb) from $7,149/mt ($3.18/lb). That amounted to a 6.7% decline for the month, and several times during March the price dropped below the $3/lb threshold to as low as $2.92/lb. At the beginning of the year, copper was trading at $3.32/lb. Year-to-date, copper prices are down about 10%. In the October 2013 Markets column, E&MJ reported the International Copper Study Group’s forecast for an oversupplied copper market in 2014. Despite copper production interruptions at some major mines, softening demand appears to support that forecast.