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.%
1.1775
0.0009
0.0790%
1.3358
-0.0024
0.1790%
15.896
0.044
0.278%
56.810
-0.515
0.898%
62.65
-0.70
1.10%
1247.765
-0.585
0.047%
 
Live Forex Updates