Copper slumps 4.5% to two-month nadir
2017-12-05 19:08:42 GMT (Economies.com)
Copper slumps 4.5% to two-month nadir

Copper prices lost over 4.5% on Tuesday, marking the lowest in two months as most industrial metals lose ground over concerns about Chinese demand, while Asian inventories rose. 

 

Copper slumped 4.6% to $2.942 from the opening of $3.086, marking the lowest since October 3, with a session-high at $3.099. 

 

Copper lost 0.3% yesterday after hitting a week high on Friday, as the dollar index gained ground against a basket of currencies, while China's demand weakens.

 

London Exchange-approved inventories of copper rose by over 10 thousand tonnes, with the increase concentrated in China and South Korea. 

 

Gains in the dollar index hurt the dollar-denominated copper futures and other commodities, as their cost increases as well to holders of other currencies. 

 
 
 
  Symbol Last Change Chg.%
1.1657
0.0065
0.5633%
1.3263
-0.0001
0.0041%
16.445
-0.113
0.682%
69.320
4.947
7.686%
75.59
2.53
3.46%
1269.655
-10.115
0.790%
 
 
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