Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RealMuLan who wrote (20410)	1/4/2005 5:45:01 PM
From: RealMuLan	Read Replies (1) of 116555

Copper Tumbles Most in Two Months on Dollar Gains, China Sales Jan. 4 (Bloomberg) -- Copper in New York tumbled almost 5 percent, the most in two months, as gains in the dollar and declining prices in China signal reduced demand from manufacturers of wire and pipes. The plunge in prices to a two-week low came after copper closed yesterday at a 15-year high. On China's Shanghai Futures Exchange, the metal dropped 0.9 percent today, and the dollar rose against the euro. Buying by hedge funds as the dollar fell to a record against the euro helped send copper prices up 39 percent last year, the third straight annual gain. ``The dollar has been the dominating factor for copper for two years,'' said Steven Savitsky, a trader at Hanemann Trading Co. in New York. ``There's a lot of selling in China.'' Copper futures for March delivery fell 7.25 cents, or 4.9 percent, to $1.401 a pound at 8:29 a.m. on the Comex division of the New York Mercantile Exchange, the biggest drop since Oct. 13. Prices touched $1.40, the lowest since Dec. 23. A futures contract is an obligation to buy or sell a commodity at a set price by a specific date. bloomberg.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next