LME Cu settles below $3,700 as stocks rise again

London 12 November 2008 13:35

Three-month copper settled below $3,700 per tonne in the official pricing session on the London Metal Exchange on Wednesday on rising stocks and deteriorating sentiment across financial markets. Copper recorded an official three-month price of $3,625/35 per tonne after closing on Tuesday at $3,640, as selling resumed on mounting concerns over global demand for raw materials. Stocks rose by net 4,625 tonnes in LME-bonded warehouses, taking total inventories to 270,100 tonnes. “We’re just trying to keep our heads above water every day,” said one category II trading source. The stronger dollar, which was trading at $1.25 against the euro at 13:12 GMT, is also putting...

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LME Cu settles below $3,700 as stocks rise again

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