Copper in London, New York, Advances to Highest Since July 2008 on Dollar-Shanghai Metals Market

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Copper in London, New York, Advances to Highest Since July 2008 on Dollar

Industry News 01:33:29PM Oct 11, 2010 Source:SMM

Oct 11 (Bloomberg) -- Copper in London and New York climbed to 27-month highs on speculation that the Federal Reserve will increase measures to stimulate the U.S. economy, weakening the dollar and boosting demand for commodities as alternative investments.

The metal for three-month delivery on the London Metal Exchange rose as much as 0.5 percent to $8,350.50 a metric ton, the highest level since July 2008, and traded at $8,350 a ton by 11:03 a.m. in Singapore.

Futures for December-delivery on the Comex in New York gained as much as 0.9 percent to $3.8065 a pound, also the highest since July 2008, before trading at $3.8040 a pound.


              



 

Copper in London, New York, Advances to Highest Since July 2008 on Dollar

Industry News 01:33:29PM Oct 11, 2010 Source:SMM

Oct 11 (Bloomberg) -- Copper in London and New York climbed to 27-month highs on speculation that the Federal Reserve will increase measures to stimulate the U.S. economy, weakening the dollar and boosting demand for commodities as alternative investments.

The metal for three-month delivery on the London Metal Exchange rose as much as 0.5 percent to $8,350.50 a metric ton, the highest level since July 2008, and traded at $8,350 a ton by 11:03 a.m. in Singapore.

Futures for December-delivery on the Comex in New York gained as much as 0.9 percent to $3.8065 a pound, also the highest since July 2008, before trading at $3.8040 a pound.