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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.

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