Copper advances on dollar, data

Print this page Posted on : 11-03-2009 by recycleinme.com

Nov. 2 Copper rose in London as manufacturing expanded at the fastest pace in 18 months in China, the world's biggest consumer of the metal. Copper for three-month delivery rose as much as $79, or 1.2 per cent, to $6,559 a tonne on the London Metal Exchange and was at $6,515 at 10:12 a.m. local time. Prices have dropped 3.2 per cent from a 13-month high of $6,732 on Oct. 26. December-delivery copper gained 0.4 per cent to $2.9665 a pound on the New York Mercantile Exchanges COMEX unit. Among other LME metals for three-month delivery, aluminium was unchanged at $1,908 a tonne, zinc gained 0.8 per cent to $2,177 a tonne, and lead slid 0.7 per cent to $2,289 a tonne. Tin was unchanged at $14,700 a tonne, and nickel fell 0.6 per cent to $18,150 a tonne.

Source : Business Line