Economic data, potential China disruptions send Comex copper to 13-month high
Nov 16, 2009 | 01:30 PM
| Tatyana Shumsky
Copper futures rallied to a 13-month high in New York on Monday amid positive economic data and potential production disruptions in China.
The December contract on the Comex division of the New York Mercantile Exchange settled at $3.1035 per pound, up 4.4 percent from Friday's close at $2.9725 per pound. On the London Metal Exchange, three-month copper closed at $6,705 per tonne, up nearly 3 percent from $6,512 in the same comparison.
Lower interest rates are widely seen as contributing to continued dollar weakness, an overall boon to base metal prices.
"The dollar is weak, and as long as the dollar remains weak the fall in commodity prices will be limited," one trader said.....
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