| International copper prices fall to a new low month |
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Emotional back to Europe and the hedge financial market, influence on Friday and Monday dollar rallied to during more than half a year, a record also influence international copper futures prices for two consecutive trading day falling, and fell to the lowest since a month. During the weekend G7 meeting failed to come up with solutions to the problems of the global economy, to combat market confidence.
Close all day on Monday, London LME market three months period copper prices fell $66.50, or, to $8755 a tonne, lowest plate dropped to 8620, the lowest since August 11; COMEX market main December contract fell 3.70 cents to $3.9655 a pound, pan for 3.9050 minimum. With the European central bank for the bonds to buy plan disagree, the bank executive committee, chief economist stark September 9 announced his resignation. Analysts believe that stark's resignation shows that the European central bank to buy bonds internal plan exists great differences, this could about the eurozone will weaken the market's debt crisis of authority should confidence. World's largest copper Codelco said on Monday, some foreign clients for copper purchase contract cancelled recently, worried that the global economy will slow down to lower demand. But some market experts think that, in the demand of the arrival of the season, these customers the move could just for took the opportunity to bargain, and persecute the seller promised to lower sales price. But China's general administration of customs on September 10 preliminary figures released in August, China imported forging cupreous and not total 340400 tons of copper, higher than in July 306600 tons, imports for months has continued to rise. |
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