Copper futures edged down half a percentage point in early trading Thursday, however, trading volumes were thin as traders adapted a wait-and-see approach ahead of anticipated statements by Federal Reserve chairman Ben Bernanke and President Barack Obama for further insight into the state of the US economy.
Copper prices witness some well-deserved relief over the past few days, spurred my positive manufacturing data out of the U.S. On Tuesday morning, copper continued its ascent, trading as high $4.0395 a pound, but quickly gave-up those gains when news that U.S. April home construction unexpectedly fell hit the markets.
Copper halted a four-session slump Tuesday as economic concerns eased following a drop in the price of crude oil. On Monday, crude closed at a 29-month high on disruptions in Libya.
Bloomberg reports that Copper futures rose to a record as inventories declined in China.
Bloomberg reports that Copper prices fell the most in three weeks in New York.
Bloomberg reports that Copper futures gained, trading close to a 31-month high in New York, after imports by China rebounded from the lowest level in a year.
Bloomberg reports that Copper rose to a record on signs the global recovery will stoke demand.
Bloomberg reports that Copper prices rose, capping the biggest weekly gain in more than four months.
Bloomberg reports that Copper prices had the biggest gain in almost four weeks as factory output expanded in China.
Reuters Africa reports that U.S. copper futures maintained momentum near a two-week peak above $3.90 per lb early Wednesday.
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