Copper prices fail to hold $8,200 after US jobs data
May 04, 2012 | 11:48 AM
Copper prices retreated below $8,200 per tonne in kerb trading on the London Metal Exchange on Friday May 4, under pressure after US employment data for April lagged expectations.
Non-farms payroll data showed 115,000 jobs were added in April, down from 154,000 in the previous month. Unemployment stood at 8.1%, up ten basis points from the previous month.
Copper prices came under pressure over the course of the week as market participants anticipated a disappointing jobs number, and positions were trimmed further ahead of the close of trading on Friday. ....
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