Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Wednesday 08th of February 2012
Monday, April 6, 2009

Copper lower on consumption forecast

Story link: Copper lower on consumption forecast
by Elaine Frei
Copper lower on consumption forecast

Copper prices were lower Monday on forecasts that consumption will drop this year and after an industry report showed that sentiment among US homebuilders remained low in March.

Sydney, Australia-based Macquarie Group (ASX: MQG)  forecast that consumption of copper, which is used heavily in construction, will drop by 9.2 percent this year.

May copper was 4 cents lower to $1.96 per pound in New York, while three-month copper dropped to $4,266.50 per tonne in late afternoon trade on the London Metal Exchange.

Precious metals were also lower.

June gold dropped $24.50 to $872.80 per troy ounce in New York trade on lower demand as sentiment improved on the chance that the US economy will strengthen soon.

The decline came after comments late last week from Federal Reserve Chairman Ben Bernanke, who said that efforts by the Fed to free up credit are seeing success.

Meanwhile, May silver was down 63 cents to $12.11 per troy ounce.

 


Related posts to: Copper lower on consumption forecast

Demand forecast sends copper, zinc prices to new record highs ...

Citigroup forecasts less volatile metal prices ...

Base metals mixed on supply, demand predicitions ...

Long term gold and silver forecasts revised ...

Volatile year ahead for gold ...

Latest Metals News:

Latest News  Gold ends session lower in New York, but gains on week

Latest News  Gold prices retreat after setting new intraday high

Latest News  Gold closes at $1,666 per ounce in New York trade

Latest News  Gold prices at new records on disappointing US data

Latest News  Gold prices lower but comes off session lows on manufacturing data

Latest News  Gold sets new intraday, closing highs to end trading week in New York

Latest News  Copper rises; precious metals prices see declines

Latest News  Gold prices drop on profit-taking, stronger US dollar

Latest News  $1,616.80 per troy ounce: Another record high for gold

Latest News  Gold trades as high as $1,624.30 per ounce in New York


Previous: «
Next: »

Visited 5066 times, 3 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):