Copper down as virus cases rise

    799

    London copper prices fell on Tuesday as a spike in coronavirus infections in Europe and uncertainty about a US stimulus deal raised worries about the prospect of a sustained global economic recovery.

    Three-month copper on the London Metal Exchange declined 0.2 percent to $6,765 a ton, while the most-traded November copper contract on the Shanghai Futures Exchange was almost flat at 51,310 yuan ($7,676.54) a ton.

    Surging coronavirus infections in Europe ignited concerns about more severe lockdowns, while parts of Britain were put into lockdown and France imposed curfews.

    US House Speaker Nancy Pelosi said that she believed stimulus legislation could be pushed through before Election Day, while acknowledging an agreement would have to come by Tuesday for that to happen.