US copper opens down, market holds above 6-wk low
http://about.reuters.com/dynamic/countrypages/mexi [2008-7-30]
Tag : metal copper
NEW YORK, July 29 (Reuters) - U.S. copper futures slipped earlyTuesday in line with a drop in crude oil, as a firmer dollar andeconomic growth concerns left prices of the red metal teeteringjust above a six-week low.
NOTE: For detailed report, click on [MET/L].
* Copper for September delivery was trading down 3.70cents, or 1 percent, at $3.5750 a lb by 10:27 a.m. EDT (1427 GMT)on the the New York Mercantile Exchange's COMEX division.
* The morning range was from $3.5580 to $3.6270.
* A break below $3.5550 would leave the September contract dealingat its lowest point since mid-June.
* Next support would be at the June 12 low at $3.51 - trader.
* By 9 a.m. EDT (1300 GMT), COMEX estimated futures volumes at4,797 lots.
* Copper down in tandem with energies and precious metalscomplexes, after the dollar extends its morning gains onbetter-than-expected U.S. July consumer confidence data.
* The Conference Board said its overall monthly measure ofconsumers' mood rose to 51.9 this month -- the first rise sinceDecember -- from an upwardly revised 51.0 in June, which was thelowest since 47.3 in February 1992.
* Following the data, the euro traded 0.6 percent down to a sessionlow at $1.5653.
* A stronger dollar typically dents demand for dollar-denominatedcopper by making it more expensive for non U.S. investors.
* Steady upticks in London Metal Exchange (LME) warehouse stocksunderscore market concerns global demand growth.
* LME copper stocks rose by 675 tonnes to 136,725 tonnes onTuesday.
* COMEX copper stocks were flat at 7,123 short tons on Monday.
* On the labor front, workers at Chile's new Gaby mine, owned byworld No. 1 copper miner Codelco, have reached a collective labordeal with the state giant. [ID:nN29424710]
* World copper mine production rose by 26 percent to 15.4 milliontonnes in the 10 years to 2007 - the International Copper StudyGroup (ICSG). [ID:nL8619163]
* LME copper for delivery in three-months last tradedat $7,890 a tonne, down $105 from Monday's closing level.
NEW YORK, July 29 (Reuters) - U.S. copper futures slipped earlyTuesday in line with a drop in crude oil, as a firmer dollar andeconomic growth concerns left prices of the red metal teeteringjust above a six-week low.
NOTE: For detailed report, click on [MET/L].
* Copper for September delivery
* The morning range was from $3.5580 to $3.6270.
* A break below $3.5550 would leave the September contract dealingat its lowest point since mid-June.
* Next support would be at the June 12 low at $3.51 - trader.
* By 9 a.m. EDT (1300 GMT), COMEX estimated futures volumes at4,797 lots.
* Copper down in tandem with energies and precious metalscomplexes, after the dollar extends its morning gains onbetter-than-expected U.S. July consumer confidence data.
* The Conference Board said its overall monthly measure ofconsumers' mood rose to 51.9 this month -- the first rise sinceDecember -- from an upwardly revised 51.0 in June, which was thelowest since 47.3 in February 1992.
* Following the data, the euro traded 0.6 percent down to a sessionlow at $1.5653
* A stronger dollar typically dents demand for dollar-denominatedcopper by making it more expensive for non U.S. investors.
* Steady upticks in London Metal Exchange (LME) warehouse stocksunderscore market concerns global demand growth.
* LME copper stocks rose by 675 tonnes to 136,725 tonnes onTuesday.
* COMEX copper stocks were flat at 7,123 short tons on Monday.
* On the labor front, workers at Chile's new Gaby mine, owned byworld No. 1 copper miner Codelco, have reached a collective labordeal with the state giant. [ID:nN29424710]
* World copper mine production rose by 26 percent to 15.4 milliontonnes in the 10 years to 2007 - the International Copper StudyGroup (ICSG). [ID:nL8619163]
* LME copper for delivery in three-months
Related News »
In Focus »
whole cupboard
A few days ago, the 2008 China’s stairs & cupboard export trade fair was held in Guangda ..
- Chinese spits on Ghanaian after ..
- Standards For Kitchen Furniture ..
- Kiwis’ kitchen cleaning habits ..
B2B Keywords:
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
Hot Products: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 0-9
-
-
About Us -
Links -
Privacy Policy -
Terms of Use -
Site Map -
Contact Us -
Call Center: 0086-95105561 © 2007 Tootoo.com -
