Copper prices drop to 7-week low

Base metal prices on the London Metal Exchange (LME) all decreased on Thursday, with copper prices slips to 7-week low as European economies stumble.

Copper prices decreased to the lowest level since late June on Thursday on concerns about demand for the industrial metal after data showing euro zone economic growth ground to a halt in the second quarter.

The eurozone's gross domestic product (GDP) remained stable in the second quarter of 2014, according to seasonally adjusted data released by Eurostat on Thursday.

Germany's economy contracted by 0.2 percent in the quarter. France fared a little better,flatlining for the second successive quarter.

The three-month unofficial copper price dropped 53 U.S. dollars, or 0.77 percent, to6,833 U.S. dollars per tonne.

The three-month unofficial aluminum price lost 34 U.S. dollars, or 1.67 percent, to 2,005U.S. dollars a tonne.

The three-month unofficial lead price lost 27 U.S. dollars, or 1.21 percent, to 2,210 U.S. dollars a tonne.

The three-month unofficial zinc price lost 10 U.S. dollars, or 0.44 percent, to 2,282 U.S. dollars a tonne.

The three-month unofficial nickel price lost 137 U.S. dollars, or 0.73 percent, to 18,550U.S. dollars a tonne.

The three-month unofficial tin price lost 70U.S. dollars, or 0.31 percent, to 22,375 U.S. dollars a tonne.