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.%
1.1748
0.0117
1.0051%
1.3079
0.0010
0.0727%
14.296
0.229
1.624%
70.832
1.845
2.674%
78.76
0.06
0.08%
1199.070
5.295
0.444%
 
 
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