Copper Falls Below $3 Per Pound
A strong US dollar and continued concern about demand issues with the ongoing worry of an increasing credit crisis found copper below the $3.00 a pound threshold in New York futures trade.
* Copper’s sharp morning losses tied to reduced appetite for risk as concerns about the fragility of the global economic outlook and slower demand growth for industrial metals weigh on the market – brokers.
* “It’s definitely about the dollar this morning. Copper, as well as crude, are showing their concern about the world economy going forward.” – Frank Lesh, broker and futures analyst with Future Path Trading in Chicago.
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Tue, Sep 30, 2008
Post by Mike Rodger, Copper Reporter