Firm dollar drags copper

Print this page Posted on : 12-30-2011 by recycleinme.com

Copper fell on Thursday for a second straight day on a resurgent dollar, investor caution over the euro zone sovereign debt crisis and worries about growth in big metals consumer China.

Copper has fallen 23 per cent this year. Three-month copper on the London Metal Exchange was down 0.7 per cent at $7,410 a tonne.

Three-month aluminium was down 0.4 per cent at $1,992 Western world unwrought aluminium stocks rose to 1.456 million tonnes in November compared with a revised 1.406 million in October.

Tin, which has fallen around 44 per cent since a record $33,600 hit in April, was $18,999 ($18,600); Zinc was $1,824 ($1,810.5), lead was $1,975 ($1,960) and nickel was $18,101 ($17,900).

Source : Business Line