Copper scrap follows Comex prices lower

Dec 14, 2007 | 08:25 AM | Sean Barry

U.S. copper scrap prices have come under downward pressure as copper on the Comex division of the New York Mercantile Exchange continues to fall on a rising dollar.

March-delivery Comex copper fell below $3 a pound Thursday and was trading at $2.964 a pound midday Friday, little changed from the previous day's $2.961-a-pound settlement. Copper was trading at $3.13 a pound the same time last week and has come under pressure as cautious investors and better-than-expected economic data strengthened the dollar against major foreign currencies.

A rising dollar depresses overseas trade in dollar-based commodities like copper.....





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