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Copper Dips to Lowest in Three Months on Concern Global Recovery to Stall
Aug 9,2011 10:14CST
industry news
Source:SMM
Copper in London dropped to the lowest level in almost three months on concern that the cut in the U.S. credit rating by Standard & Poor’s will curb the global economic recovery.

Aug. 9 (Bloomberg) –Copper in London dropped to the lowest level in almost three months on concern that the cut in the U.S. credit rating by Standard & Poor’s will curb the global economic recovery.

Metal for three-month delivery on the London Metal Exchange fell as much as 1.4 percent to $8,661 a metric ton, the lowest level since May 12. Aluminum gained as much as 0.2 percent to $2,389 a ton amid concern supplies will continue to tighten in China, the largest user.

 

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