Copper futures declined on Monday as demand concerns mounted after Japan, the fourth-biggest consumer of the metal, unexpectedly sank into a recession in the third quarter. Further, output at factories, utilities and mines in the US, the second-biggest consumer, fell a seasonally adjusted 0.1% in October from the prior month, too added pressure on copper prices.
Copper futures for March delivery dropped 0.2 percent to settle at $3.0315 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended less than 0.1 percent to $6,704 a metric ton.
No comments:
Post a Comment