Copper in London Heads for First Weekly Drop in Six Weeks as Dollar Gains-Shanghai Metals Market

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Copper in London Heads for First Weekly Drop in Six Weeks as Dollar Gains

Industry News 01:04:48PM Oct 22, 2010 Source:SMM

Oct 22 (Bloomberg) -- Copper declined for a second day, heading for the first weekly drop in six weeks, as the dollar’s rebound damped the appeal of commodities as alternative investments. Zinc and lead also fell.

The metal for three-month delivery on the London Metal Exchange fell as much as 0.2 percent to $8,288 a metric ton, before trading at $8,306 a ton by 8:02 a.m. in Singapore, down 1.1 percent this week.

Zinc fell 0.4 percent to $2,464 a ton, after climbing to the highest level since April yesterday. Lead lost 0.6 percent, after rising to the highest price since January yesterday. 
             
      

 

 

 

Copper in London Heads for First Weekly Drop in Six Weeks as Dollar Gains

Industry News 01:04:48PM Oct 22, 2010 Source:SMM

Oct 22 (Bloomberg) -- Copper declined for a second day, heading for the first weekly drop in six weeks, as the dollar’s rebound damped the appeal of commodities as alternative investments. Zinc and lead also fell.

The metal for three-month delivery on the London Metal Exchange fell as much as 0.2 percent to $8,288 a metric ton, before trading at $8,306 a ton by 8:02 a.m. in Singapore, down 1.1 percent this week.

Zinc fell 0.4 percent to $2,464 a ton, after climbing to the highest level since April yesterday. Lead lost 0.6 percent, after rising to the highest price since January yesterday.