COPPER SETTLES FLAT ON GETTING MIXED SIGNALS FROM US ECONOMY
DATE: 17/04/2012
Copper prices settled on an absolutely flat note on Monday, consolidating their position after suffering a brutal two and half a percent laceration in the last session as market men grew increasingly worried about the industrial metal's demand outlook after getting the disappointing growth figures from top consumer China. The intensifying Euro-zone woes, strength in US dollar and decline in US home builders' confidence limited upside in red metal prices while the better than expected US retail sales data capped the industrial metal's downside risks.
Copper futures for May delivery gained 0.10 cent to close at $3.6280 per lb, after trading as high as $3.6345 and as low as $3.5690 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange eased $6 or 0.08% to settle at $7,984 a tonne.
Copper futures for May delivery gained 0.10 cent to close at $3.6280 per lb, after trading as high as $3.6345 and as low as $3.5690 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange eased $6 or 0.08% to settle at $7,984 a tonne.
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