COPPER EASES FOR THIRD CONSECUTIVE SESSION ON WEDNESDAY
Date: 12/04/2012
Copper prices eased for third consecutive session on Wednesday as markets participants remained concerned over the industrial metal’s demand prospects amid slowing down growth in the US, China and resurfacing Euro-zone debt woes. However, the downside in the red metal prices was capped by the depreciation in American greenback against a basket of currencies, which made the dollar denominated commodity lucrative for overseas investors.
Copper futures for May delivery eased 1.05 cent or 0.3% to close at $3.6395 per lb, after trading as high as $3.6730 and as low as $3.6460 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange rose $4 to settle at $8,040 a tonne.
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