International copper prices continued to fall and fell for four consecutive days

On Wednesday, the international copper price continued to adjust in the near-term and closed down for the fourth consecutive trading day. Greek creditors consider delaying the release of rescue funds, leaving the market worried about the prospect of rescue. Affected by this news, the US dollar index continued to rise during European and American trading hours on the same day.

Closed all day, London's LME market three-month copper fell 0.53% to 8370 US dollars per ton; New York COMEX market's main contract in March contract closed at 3.8015 US dollars per pound, down 1.30 cents or 0.3%.

International media reported on Wednesday that the euro zone finance ministers meeting will continue to delay the decision on the second round of 130 billion euros in Greek aid loans. According to report analysis, the EU should try to help Greece avoid the default of the national debt in March, but the final second round of aid loans may not wait until after the Greek general election in April. After another news that Greece's international creditors may provide adequate bridge financing before March 20 to avoid default.

Market participants pointed out that the current feeling of investors is that even if all goes well, the EU economy will be in a stagnant state, and the risk of eventually falling into recession is still not small. This will inevitably put downward pressure on the formation of the euro and put pressure on commodity prices as a whole.

Peru’s Ministry of Mines and Energy announced on Wednesday that in 2011 Peru’s mineral exports increased by 26% year-on-year to US$27.4 billion; December exports increased by 9.7% to US$2.77 billion. Mainly due to increased exports of copper, lead and gold, prices have risen.