Copper in London Erases Gains, Declines for a Second Day as Dollar Climbs-Shanghai Metals Market

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Copper in London Erases Gains, Declines for a Second Day as Dollar Climbs

Industry News 09:33:16AM Dec 16, 2010 Source:SMM

Dec. 15 (Bloomberg) --Copper declined for a second day, erasing an advance in early Asian trading, as some investors sold the metal to lock in gains after it climbed to a record yesterday, and as the dollar’s rebound reduced the appeal of commodities as alternative investments.

The metal for three-month delivery on the London Metal Exchange fell as much as 0.4 percent to $9,130 a metric ton, and traded at $9,133.75 by 2:16 p.m. Singapore time. Earlier the contract rose as much as 0.9 percent. It reached a record $9,267.50 a ton yesterday.

 

 

 

 

 

 

 

Copper in London Erases Gains, Declines for a Second Day as Dollar Climbs

Industry News 09:33:16AM Dec 16, 2010 Source:SMM

Dec. 15 (Bloomberg) --Copper declined for a second day, erasing an advance in early Asian trading, as some investors sold the metal to lock in gains after it climbed to a record yesterday, and as the dollar’s rebound reduced the appeal of commodities as alternative investments.

The metal for three-month delivery on the London Metal Exchange fell as much as 0.4 percent to $9,130 a metric ton, and traded at $9,133.75 by 2:16 p.m. Singapore time. Earlier the contract rose as much as 0.9 percent. It reached a record $9,267.50 a ton yesterday.