Copper declines in New York, London
by Elaine Frei
Metals prices were mixed on Wednesday.
Among base metals, December copper dropped 3 cents to $3.36 per pound in New York after a scheduled strike in Peru was cancelled and workers and management resumed wage talks.
In addition, a magnitude 8.4 earthquake off the coast of Sumatra was said by two mining companies there not to have had an effect on production.
London Metal Exchange three-month copper was also lower dropping $55 to $7,420 per tonne, or $3.37 per pound.
Precious metals prices were mostly lower.
December gold dropped 40 cents to $720.70 per troy ounce in New York on the expectation that the Federal Reserve will cut US interest rates when it meets next week, further weakening the dollar.
December silver was also lower, falling 4 cents to $12.79 per troy ounce, but October platinum added $2.10 to $1,304.70 per troy ounce.
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