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London copper steady on upbeat US data, but firmer US dollar weighs

From financialpost.com

London copper was steady on Thursday, supported by strong U.S. economic data and concerns over tight global supply, although a firmer dollar and Federal Reserve’s taper timeline put some downward pressure on prices. Three-month copper on the London Metal Exchange was steady at $9,845.50 a tonne, as of 0240 GMT, having scaled to a near one-month high of $9,880 on Wednesday.The most-traded January copper contract on the Shanghai Futures Exchange rose as much as 1.6% to 72,260 yuan ($11,311.30) a tonne, its highest since Oct. 22. Data released on Wednesday showed U.S. weekly jobless claims fell and third-quarter GDP ... (full story)

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  • Category: Fundamental Analysis