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Monday, August 11, 2008
UPDATES ON AUG 11 2008
AUG 11 MONDAY
Copper hovered around six month lows on Friday
on profit taking and a soft demand picture and a firmer dollar
dampening sentiments.
Copper for delivery in 3 months on the London Metal
Exchange shed 2.5 % or $ 190 to $ 7475 per tonne
by 0929 GMT .
Earlier copper , used in the construction and power
industries , hit a low of $ 7490 - its lowest since February.
[rices around 5 % this week and heading for their biggest
weekly fall since mid March.
Copper stocks in Shangai fell 14.5 % to 5330 tonnes
last week to 31509 tonnes in data released after the
markets closed in line with expectations.
Copper hovered around six month lows on Friday
on profit taking and a soft demand picture and a firmer dollar
dampening sentiments.
Copper for delivery in 3 months on the London Metal
Exchange shed 2.5 % or $ 190 to $ 7475 per tonne
by 0929 GMT .
Earlier copper , used in the construction and power
industries , hit a low of $ 7490 - its lowest since February.
[rices around 5 % this week and heading for their biggest
weekly fall since mid March.
Copper stocks in Shangai fell 14.5 % to 5330 tonnes
last week to 31509 tonnes in data released after the
markets closed in line with expectations.
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