(Bloomberg) -- Copper futures gained in New York,
erasing an earlier slide, after a report showed that U.S. consumer
confidence unexpectedly rose in May.
The price of copper tumbled as much as 2.3 percent before
rebounding. The metal still plunged 7.8 percent this week, the most
in three months, on speculation demand in China, the biggest
consumer, will slow. The Reuters/University of Michigan's
preliminary index of consumer sentiment increased to 88.7 from
87.1 in April.
Read more at Bloomberg Commodities News
erasing an earlier slide, after a report showed that U.S. consumer
confidence unexpectedly rose in May.
The price of copper tumbled as much as 2.3 percent before
rebounding. The metal still plunged 7.8 percent this week, the most
in three months, on speculation demand in China, the biggest
consumer, will slow. The Reuters/University of Michigan's
preliminary index of consumer sentiment increased to 88.7 from
87.1 in April.
Read more at Bloomberg Commodities News
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