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.
Related posts to: Copper declines in New York, London
Metals rise after early declines ...
DB ups 2009 metals targets as copper declines ...
LME stockpile declines boost copper prices ...
Metals up as investors seek bargains ...
Lead and zinc gain as copper declines ...
Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Strong forecasts for gold price
Next: Strike reprieve for Peruvian copper miner »
Visited 1227 times, 1 so far today