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Copper Falls Below $3 Per Pound
September 30, 2008 @ 7:52 am In Copper Market News
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 [1] in Chicago.
Find the complete article here [2].
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URLs in this post:
[1] Future Path Trading: http://www.futurepathtrading.com/
[2] here: http://www.reuters.com/article/rbssMiningMetalsSpecialty/idUSN2937643320080929?pageNumber=1&virtualBrandChannel=0
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