Is this the copper rebound we have been waiting for
Sun, Nov 2, 2008
Copper Investing News reports copper prices jumped 13% on the London Metal Exchange.
On Thursday, copper lost some footing, retreating almost 5 per cent in early trading as rising London Metal Exchange stocks halted this week’s short-covering rally. London Metal Exchange copper warehouse stocks increased by 1,750 tonnes to 217,300 tonnes on Wednesday. COMEX copper stocks stood even at 9,892 short tons as of Tuesday. In early trade sentiment was supported by dollar weakness, with the US currency posting its biggest one-day fall in 23 years against a basket of currencies after the Fed and Chinese central bank rate cut.
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Tags: base metals, chinese central bank, COMEX, comex copper, consumption, Copper, copper futures, copper investing, copper sales, credit crunch, deliveries, dollar, dollar weakness, federal reserve, gdp data, Gold prices, Iiliangxi Copper, industrial metals, interest rate reduction, investing news, LME, London Metal Exchange, mining, new york mercantile exchange, newmont, newmont mining corp, warehouse stocks, zinc
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November 2nd, 2008 at 10:30 pm
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