Tuesday, August 9, 2005
Copper down 3 percent on interest hikes
Story link: Copper down 3 percent on interest hikes
by Brian Turner
by Brian Turner
Copper prices on the London Metal Exchange were down by 2.1 percent to $3,490 per tonne on speculation that the dollar could gain strength following the hike in the US interest rate by the Federal Reserve.
Tuesday’s decline took copper prices 3 percent lower than Friday’s record high of $3,600 per tonne, and it was copper’s longest one-day decline in five weeks.
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