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Thursday, September 11, 2008
UPDATE
COPPER MARKET UPDATE FOR 10 SEPT
U.S. copper futures ended up for the first time in five sessions
Wednesday after a reduced production outlook from a top producer
and an earthquake in northern Chile reignited some fears of a supply
short-fall.
Copper for December delivery HGZ8 settled up 2.70 cents at $3.1140
a lb on the New York Mercantile Exchange's COMEX division.
* The session range widened to $3.1440 to $3.04, the contract's
lowest level since Jan. 23.
* Spot September HGU8 gained 2.85 cents to close at $3.1235.
* COMEX estimated final futures volumes at 19,210 lots, compared
with Tuesday's official count at 16,003 lots.
Open interest edged up 31 lots to 76,798 contracts open as of Sept. 9.
Copper up in a late short-covering rally on news of a powerful 5.8
magnitude earthquake in northern Chile, home to the country's large
copper mining areas.
U.S. copper futures ended up for the first time in five sessions
Wednesday after a reduced production outlook from a top producer
and an earthquake in northern Chile reignited some fears of a supply
short-fall.
Copper for December delivery HGZ8 settled up 2.70 cents at $3.1140
a lb on the New York Mercantile Exchange's COMEX division.
* The session range widened to $3.1440 to $3.04, the contract's
lowest level since Jan. 23.
* Spot September HGU8 gained 2.85 cents to close at $3.1235.
* COMEX estimated final futures volumes at 19,210 lots, compared
with Tuesday's official count at 16,003 lots.
Open interest edged up 31 lots to 76,798 contracts open as of Sept. 9.
Copper up in a late short-covering rally on news of a powerful 5.8
magnitude earthquake in northern Chile, home to the country's large
copper mining areas.
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