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Commodities Briefing - Categorized | Metals and Minerals, Price Watch more

Copper tumbles more than 9 per cent

Posted on 16 October 2008

From Theglobeandmail.com: Industrial metals tumbled Wednesday, with copper plunging more than 9 per cent in late business as a sharp downturn in U.S. equity markets reinforced fears of a global economic recession.

Copper for delivery in three months on the London Metal Exchange (LME) closed at $4,920 (U.S.) a tonne, down $378 from Tuesday’s closing bid of $5,298. In after-hours electronic business, the red metal fell as low as $4,820. In New York, copper for December delivery plunged 18.40 cents, or 7.7 per cent, to close at $2.2105 a pound on the New York Mercantile Exchange’s Comex division….. Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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