The boomlet in copper was again deflated on Tuesday, with London Metal Exchange prices and Comex futures prices in New York touching their lowest levels in seven weeks due to pressure from rising inventories and currency volatility. Three-month copper on the London Metal Exchange (LME) fell 2% to $US9,706 per tonne after hitting $US9,691, the lowest since April 23. In New York, the Comex front month ended at $US4.51 a pound after touching a day’s low of $US4.425, the lowest since mid-April. Copper reached a record high of $US11,104.5 on May 20 in London and $US5.1999 a pound the same week in New York. The LME price ... (full story)