Metals News
Copper in London, New York, Advances to Highest Since July 2008 on Dollar
industry news
13:33PM
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.


              



 

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