Copper in London Gains for Third Day on Weaker Dollar
Posted: Sun Nov 07, 2010 8:49 pmCopper in London Gains for Third Day on Weaker Dollar, Chile Mine Strike
Copper climbed for a third day, approaching a 28-month high, as investors sought alternatives to a declining dollar amid concerns supplies from Chile, the world’s largest producer, may be disrupted.
The metal for three-month delivery on the London Metal Exchange rose as much as 0.9 percent to $8,735 a metric ton, and traded at $8,695 a ton by 9:05 a.m. Singapore time. Copper advanced to $8,769.50 a ton on Nov. 5, the highest price since July 2008.
Futures in Shanghai declined for the first time in four days as high prices deterred purchases in China, the world’s largest consumer. The metal for February-delivery on the Shanghai Futures Exchange fell as much as 0.9 percent to 66,810 yuan a ton, before trading at 67,250 yuan
http://www.bloomberg.com/news/2010-11-0 ... trike.html
Copper climbed for a third day, approaching a 28-month high, as investors sought alternatives to a declining dollar amid concerns supplies from Chile, the world’s largest producer, may be disrupted.
The metal for three-month delivery on the London Metal Exchange rose as much as 0.9 percent to $8,735 a metric ton, and traded at $8,695 a ton by 9:05 a.m. Singapore time. Copper advanced to $8,769.50 a ton on Nov. 5, the highest price since July 2008.
Futures in Shanghai declined for the first time in four days as high prices deterred purchases in China, the world’s largest consumer. The metal for February-delivery on the Shanghai Futures Exchange fell as much as 0.9 percent to 66,810 yuan a ton, before trading at 67,250 yuan
http://www.bloomberg.com/news/2010-11-0 ... trike.html