Copper slips amid coronavirus concerns

Copper futures fell on Thursday, amid growing concerns over a second wave of the coronavirus, which could lead many countries to close their economies again.

The World Health Organization has warned that the coronavirus has not reached its peak yet, and urged for further measures to contain the pandemic.

Meanwhile the Chinese government is trying to control several districts after locking them down following the emergence of new infections, especially in Beijing.

Data showed today that the US unemployment claims fell by 60,000 to 1.480 million during the past week, which is lower than forecasts of 1.3 million. 

Additionally, the US GDP shrank 5% in the first quarter of 2020, while the previous reading showed growth by 2.1% in Q4 2019.

Copper September futures fell 0.1% to $2.65 per pound as of 13:50 GMT, after hitting a session-high of $2.66 and a low of $2.63.