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Copper falls in LME officials as dollar strengthens

November 12, 2009 - 14:36 GMT Location: London

KEYWORDS: copper , Cu , aluminium , Al , nickel , Ni , LME , London Metal Exchange , pre-market

Copper slipped further in the official session on the London Metal Exchange on Thursday as the US dollar strengthened and buyers shunned the market

The red metal maintained its existing range throughout the day but a lack of buying is weighing on the market, traders agreed. Three-month copper settled at $6,489/490 per tonne in the officials down from its open of $6,578 per tonne. The contract traded as low as $6,468 per tonne by 14:20 GMT and hit an intraday high of $6,586 per tonne. The US dollar has stopped falling against the euro and this is putting pressure on all commodities, a category I trader said, while noting a poor turnover of 4,900 lots by the second ring....

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Copper

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