Despite dropping to month’s low, copper seen ruling firm this year May 24, 2021 Prices drop as China finds current spike ‘unreasonable’, speculators cut long positions Copper prices rose to a record $10,724.5 a tonne on May 10 before dropping 6.5 per cent to $10,027.50 during the weekend but this declining trend may not last for long. Analysts see copper ruling firm or heading up a little more during the later part of this year, particularly once the Covid-19 pandemic subsides in Europe. On Monday, copper prices were near a month’s low after China said it will manage its commodity supply and demand to control any unreasonable increase in prices.