Copper Futures and Options
CALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741
|
|
Copper Futures and OptionsCALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741 |
Copper Futures Advance In Asia After Price Drop Lures Buyers In China May 8th, 2008Copper futures traded higher in Asia after a drop in prices lured some buyers in China, the world's largest consumer of the metal used in wires and pipes. Copper gained 27 percent this year, partly driven by supply disruptions. The metal fell yesterday as investors reduced purchases on speculation the gains will affect demand in China. ``Investors in China have been very cautious in the past few months, only buying when the price comes off a little and only buying what they need,'' said Li Jiandong, an analyst at Jingyi Futures Co. in Beijing. Copper for delivery in three months was up 0.2 percent at $8,450 a metric ton on the London Metal Exchange at 10:01 a.m. Singapore time. July-delivery copper on the Comex division of the New York Mercantile Exchange rose 0.3 percent to $3.8450 a pound at the same time. ``Consumption is stable but persistently high international prices are having an impact on demand,'' said Li. ``Whenever London or New York copper rallies, Shanghai copper follows reluctantly, so prices are actually moving higher, albeit very slowly.'' Copper for July delivery on the Shanghai Futures Exchange, the most-active contract, gained as much as 330 yuan, or 0.5 percent, to 64,610 yuan ($9,230) a ton, and traded at 64,510 yuan at 10:03 a.m. Singapore time. Chile's state-owned Codelco, the world's biggest copper producer, said yesterday its El Salvador mine remains shut for an evaluation of damage to equipment after a 20-day strike. All mine workers are returning to El Teniente, the company's second-largest mine, which is producing below its pre-strike level. The Andina mine also is running below full capacity after resuming production this weekend for the first time since the strike began on April 16, company officials said. Among other LME-traded metals, aluminum rose 0.2 percent to $2,924.50 a ton and lead climbed 0.4 percent to $2,430 a ton. Zinc, nickel and tin had not traded as of 10:08 a.m. in Singapore. - Glenys Sim in Singapore at Bloomberg. Click here for your Free Copper Futures Trading eGuide |
|
Gold Futures
Copper Futures Silver Futures Platinum Futures Crude Oil Futures Natural Gas Futures Heating Oil Futures Unleaded Gas Futures Ethanol Futures Gasoline Blendstock Futures Corn Futures Soybean Futures Wheat Futures Coffee Futures Cocoa Futures Cotton Futures Orange Juice Futures Sugar Futures Feeder Cattle Futures Live Cattle Futures Lean Hog Futures Pork Belly Futures British Pound Futures Canadian Dollar Futures Japanese Yen Futures Swiss Franc Futures Euro FX Futures Eurodollar Futures Treasury Bond Futures |
