Volatile market quells copper scrap activity

Nov 03, 2011 | 05:26 PM | Chris Prentice

Tags  copper scrap, volatility, comex, chris prentice

NEW YORK — Financial worries stemming from Greece’s economic instability and volatile Comex prices have copper scrap buyers and sellers slow to commit, market participants told AMM.

"The market is too volatile," one copper scrap trader told AMM. "People are afraid to make a move."

Copper prices for December delivery settled at $3.59 per pound on the Comex Thursday after dropping to $3.47 per pound earlier in the day on worries that a planned Greek referendum—since called off—would block the struggling country’s bailout deal agreed upon by European leaders last week. ....

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