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LME Copper slide to two- week lows

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by - 1/17/2013 17512 Views

Copper falls to two week lows focusing on the outlook for demand from top consumer china the world’s largest copper consumer accounts for more than 40 percent of global copper demand.

Copper prices chop to a two week lows on Wednesday owing by a slender rebound in the dollar against the euro along with investors worries about lack of physical demand ahead of China's Lunar New Year holiday in China also weighing on prices.

Three months copper was down by 0.4 per cent to reach $7,962.50 a tonne which turning down after modest gains during Asian trading took prices as high as $8,021. However, 0.4 per cent rose has been recorded on the Shanghai Futures Exchange for copper the most – traded April copper contract to close at 57,940 yuan ($9,300) a tonne.  

Benchmark aluminium, zinc and lead also witnessed multi-week lows, mirroring falls across the base metals complex.

Category : Metal

Tags : Copper price, LME copper, US copper, Mumbai Copper

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