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Cu eases in LME officials on end of month profit-taking

July 30, 2010 - 13:22 GMT Location: London

KEYWORDS: copper , lme , aluminium , lead

Copper prices fell in the official session on the London Metal Exchange on Friday as a bout of profit-taking knocked the red metal from the three-month highs reached on Thursday

Three-month copper dipped to $7,217/17.5 per tonne, down from $7,240 per tonne at the open. This compares with Thursday’s official price of $7,144.5/45.5 per tonne, its highest level since April 30 when the red metal traded at $7,394.5/95.5 per tonne in the ring session. “It may be just a bit of month-end profit-taking,” a category II trading source told MB. Prices could move higher while the euro remains strong against the dollar, according to a...

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

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