Copper Prices Plummet on Chinese Economic Slowdown and Supply Fears

Copper prices have fallen below record levels due to softening economic data from top consumer China. Copper futures are trading at around $6.5 per pound, down from a high of $6.8 per pound earlier in the month.

The decline comes as industrial profits in China slowed to 15.7% in the first eight months of the year, down from a 17.6% rise in January-July.

Supply concerns are also reemerging after workers at Antofagasta's Centinela site in Chile rejected the company's final wage offer, paving the way for a potential strike.