COPPER PRICES EASE ON WEAK US RETAIL SALES DATA
DATE: 17/07/2012
Copper prices slashed on Monday, as US retail sales slumped to a third
month straight in June and also as investors went wary ahead of U.S. Federal
Reserve chairman’s presentation. The red metal’s decline was limited by
monetary easing hopes in US & China in the backdrops of looming global
economic crisis.
Copper futures for September delivery dropped by 1.90 cents or 0.5%, to
settle at $3.4850 per lb, on the Comex metals division of the New York
Mercantile Exchange. Copper for three-month delivery on the London Metal
Exchange ended down by $110 at $7,590 a ton.
POWERED BY: COMMODITY INSIGHTS
www.goldennifty.com
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