Copper Rises to Another Record High

January 4th, 2011
in News

Bloomberg Businessweek:  Copper jumped to a record on the London Metal Exchange and advanced to a 3-1/2 year high in Shanghai on speculation that global supplies will fail to keep pace with demand as the global economy extends a recovery.

Follow up:

Three-month copper in London gained as much as 1.3 percent to $9,728 a metric ton, catching up with yesterday’s rise to an all-time high in New York as the LME reopened after a holiday. It traded at $9,716 at 12:33 p.m. in Singapore. Comex futures rose to $4.4980 a pound after a report showed U.S. manufacturing grew at the fastest pace in seven months.

“The fundamental picture is definitely supportive, however, we are cautious about how quickly prices are moving higher,” Cheng Xiaoyong, an analyst at Baocheng Futures Co., said from Zhejiang. “This makes the market vulnerable to a sharp correction in the near term.”  Read more at Businessweek.....

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved