Saturday, 14 January 2012

Copper rally halted as euro fears weigh | HALALTAMWEEL.COM

Copper rally halted as euro fears weigh

1/14/2012 11:48:51 AM

LONDON: Copper capped its strongest weekly performance in six weeks with a whimper on Friday, dropping back after setting a fresh 2-month high as investors dumped risk amid talk of imminent credit downgrades of euro zone countries.

It was another day of heavier-than-normal volume in the red metal, as investors pared some long positions that were set earlier this week on upbeat reports from China and a bullish trend in London Metal Exchange (LME) inventories. Those items spurred a sense of optimism about demand prospects this year from the world's top metals consumer.

No comments:

Post a Comment