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Copper hovers below $8,000/T on firm US dollar, high inventory

From brecorder.com

Copper prices fell on Wednesday, staying below a supportive level of $8,000 a metric ton, as a firm dollar and rising inventories in exchange warehouses weighed. Three-month copper on the London Metal Exchange (LME) was down 0.4% at $7,976.50 a metric ton by 0233 GMT, having sunk below $8,000 on Tuesday for the first time since May 26. LME aluminium fell 0.4% to $2,280.50 a ton, nickel declined 0.5% to $18,640, while zinc rose 0.1% to $2,505 and lead edged up 0.2% at $2,121.50. The dollar charged higher to near an 11-month high on the back of upbeat U.S. job openings data that unexpectedly increased in August, making ... (full story)

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  • Category: Fundamental Analysis