Comex copper eases 1.8% on strong dollar, profit-taking
Dec 15, 2010 | 12:49 PM
Copper prices shed more than 1 percent in New York trading Wednesday as a stronger dollar prompted some investors to cash in on profits.
The most actively traded March contract on Comex closed at $4.1325 per pound Wednesday after reaching an intraday high of $4.2185 per pound. The settlement was down 1.8 percent from Tuesday's close at $4.209 per pound, but was still 0.8 percent higher than last Wednesday's settlement at $4.1005 per pound. The profit-taking comes after the red metal has repeatedly tested new record highs through November and December.
Earlier on Wednesday, three-month copper shed 1.6 percent to end second-ring trade on the London Metal Exchange at $9,060 per tonne after reaching a new record high Tuesday. The metal had closed the same ring at $9,208.50 per tonne Tuesday.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.