Copper Investing News » US Copper Futures Climb

US Copper Futures Climb

October 9, 2008 @ 9:33 am In Copper Market News

Investors buying low jumped US copper futures by 3%. Copper was also supported by a weakening US dollar and the rise of the euro.

Copper for December delivery HGZ8 was trading up 3.80 cents, or 1.6 percent, at $2.3930 a lb by 10:29 a.m. EDT (1429 GMT) on the New York Mercantile Exchange's COMEX ^[1] division.

Read the article here ^[2].

Central banks cutting interest rates supported a stronger opening on Wall Street as well as copper's rise. Copper's increase was due to a technical bounce from oversold conditions.

China's State Reserves Bureau, the secretive agency that manages the country's copper inventories, may be in the market to buy 300,000 tonnes in the short-term.

Find the full article here ^[3].

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URLs in this post:

[1] New York Mercantile Exchange’s COMEX: http://www.nymex.com/

[2] here: http://www.reuters.com/article/rbssMiningMetalsSpecialty/idUSN0937924220081009

[3] here: http://www.reuters.com/article/rbssMiningMetalsSpecialty/idUSN0937924220081009?pageNumber=2&virtualBrandChannel=0