Copper prices fall due to heightened tensions between Russia and Ukraine

The copper prices They fell on Thursday, in an extended cautious day in the markets, as reports of artillery fire in eastern Ukraine raised fears of a conflict with Russia.

Stock markets fell, bond prices rose and the dollar strengthened slightly, making metals more expensive for buyers outside the United States.

Benchmark copper on the London Metal Exchange (LME) was down 0.5% at $9,939.50 a tonne at 11:41 GMT, having earlier fallen as much as 1.7%.

Copper hit an all-time high of $10,747.50 a tonne in May, but has since hovered between $9,000 and $10,000 due to a slowdown in the Chinese economy, the biggest consumer of metals.

Prices remain too high and are likely to fall in the coming weeks or months as copper supplies rise, Commerzbank analyst Daniel Briesemann said, adding the decline would be reversed soon.

“Demand prospects are excellent in the long term“, Held.

Russian-backed rebels and Ukrainian forces have accused each other of shooting across the ceasefire line in eastern Ukraine, raising alarm bells at a time when Western countries have warned of the possibility of of a Russian invasion at any moment.

Among other metals, LME aluminum was up 0.1% at $3,260 a tonne, zinc was up 0.5% at $3,602, nickel was up 0.7% at $23,560, lead was down 0.1% to $2,336 and tin fell 0.3% to $43,570.

With information from Reuters