COPPER FAILS TO KEEP GAINING MOMENTUM INTACT
Mar-13-2012
Date: 13.03.2012
Copper prices failed to keep the upward momentum intact on Monday and
registered first decline in last four trading sessions after disappointing
trade numbers from world's biggest industrial metal consumer - China pressured
sentiments, dampening copper demand prospects. The growth sensitive metal
prices also got weighed down by the discouraging Italian GDP numbers which
indicated that Euro-zone's third largest economy slipped into recession as it
shrank 0.7% in the fourth quarter of 2011 while investors also remained on the
sidelines ahead of Tuesday's Federal Open Market Committee (FOMC) meeting.
Copper futures for May delivery eased 2.10 cents or 0.5% to close at $3.8375 per lb, after trading as high as $3.8650 and as low as $3.8170 per lb, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange slipped $45 to settle at $8,445 a tonne. www.goldennifty.com
Copper futures for May delivery eased 2.10 cents or 0.5% to close at $3.8375 per lb, after trading as high as $3.8650 and as low as $3.8170 per lb, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange slipped $45 to settle at $8,445 a tonne. www.goldennifty.com
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