Shanghai Copper Plunges to Fresh Year Low on U.S. Jobs Data

Industry News 09:52:28AM Jun 04, 2012 Source:SMM

SHANGHAI, June 4 (Reuters) - The most-active September copper contract on the Shanghai Futures Exchange fell more than 2 percent on Monday to its lowest since Dec. 15, weighed down by disappointing jobs data out of the United States last week.

U.S. job growth braked sharply for a third straight month in May and the unemployment rate rose for the first time in nearly a year, raising chances of further monetary stimulus from the Federal Reserve to support the sputtering recovery.
 

Key Words:  Shanghai copper Monday 

Shanghai Copper Plunges to Fresh Year Low on U.S. Jobs Data

Industry News 09:52:28AM Jun 04, 2012 Source:SMM

SHANGHAI, June 4 (Reuters) - The most-active September copper contract on the Shanghai Futures Exchange fell more than 2 percent on Monday to its lowest since Dec. 15, weighed down by disappointing jobs data out of the United States last week.

U.S. job growth braked sharply for a third straight month in May and the unemployment rate rose for the first time in nearly a year, raising chances of further monetary stimulus from the Federal Reserve to support the sputtering recovery.
 

Key Words:  Shanghai copper Monday