(Bloomberg) -- Copper rose in New York to the
highest in six weeks on speculation a decline in the value of
the dollar will boost demand for the metal used in wiring and
plumbing as inventories dwindle.
Copper stockpiles monitored by the London Metal Exchange
fell 1.8 percent to an eight-month low of 112,600 metric tons,
the exchange said today. Copper, sold in dollars, has risen
22 percent this year as inventories fell 38 percent and the U.S.
currency fell 2.6 percent against a basket of six major world
currencies. The dollar today touched the lowest level in more
than a month against the euro.
Read more at Bloomberg Commodities News
highest in six weeks on speculation a decline in the value of
the dollar will boost demand for the metal used in wiring and
plumbing as inventories dwindle.
Copper stockpiles monitored by the London Metal Exchange
fell 1.8 percent to an eight-month low of 112,600 metric tons,
the exchange said today. Copper, sold in dollars, has risen
22 percent this year as inventories fell 38 percent and the U.S.
currency fell 2.6 percent against a basket of six major world
currencies. The dollar today touched the lowest level in more
than a month against the euro.
Read more at Bloomberg Commodities News
No comments:
Post a Comment