Greenback weighs on copper

08:59, March 25, 2010      

Email | Print | Subscribe | Comments | Forum 

Shanghai copper reversed early gains and dropped nearly half a percent on Wednesday, pressured by dollar strength and as investors await a eurozone summit that may provide a solution for Greece's debt crisis.

"The market is closely watching the euro and dollar. There's no direction," said a Shanghai-based trader. "Domestic consumption is not bad, but in the meantime there's abundant spot supply."

Shanghai's benchmark third-month copper futures contract ended down 0.4 percent to 59,300 yuan a ton. It rose as high as 59,890 yuan earlier in the day.

Three-month copper on the London Metal Exchange was down 0.3 percent, or $20, to $7,420 a ton.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
Major headlines
Editor's Pick
  • Houston Rockets vs LA Clippers: 93-99
  • Stunning beauty of dotted lake in Canada
  • Different way to see things -- X-ray vision
  • First tyrannosaur rex bone discovered in southern hemisphere
  • Artist's impression: nuclear bombing
  • Russian bombers "intercepted in British airspace"
Most Popular
Hot Forum Dicussion