Copper heads for first annual fall in 3 years

Print this page Posted on : 12-31-2011 by recycleinme.com

London, Dec. 30

Copper was headed for its first annual decline in three years as the euro zone debt crisis and an economic slowdown in top metals consumer China have worsened demand growth prospects and dented market confidence.

Prices are down almost 22 per cent this year . Copper was up by almost 2 percent and traded at $7,570 a tonne in official rings on Friday from $7,425 at the close on Thursday. Aluminium traded at $1,992 a tonne ($1,9910); zinc at $1,843 ($1,832); lead at $2,002 ($1,999). Tin traded at $18,925 ($18,800) while Nickel was bid at $18,250 ($18,050).

Source : Business Line