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Copper falls from eight-week high on weakening demand outlook

Posted on 27 January 2009

From Bloomberg: Copper dropped from an eight-week high in London on speculation demand from builders and automakers is declining faster than refiners can trim output.

The metal used in plumbing and electrical wiring jumped the most since October yesterday after a report showed U.S. home resales unexpectedly rose for the first time in three months. Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, yesterday cut its 2009 sales estimate for the metal by a further 9 percent to 3.9 billion pounds….. Full Article: Source


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