COMEX copper futures drop 2.50 cents on demand worries from Europe, US

摘要

COMEX copper futures closed nearly 2.50 cents lower Sept. 24, despite rebounding sharply off intraday lows as US equity markets steadied themselves and began recouping early losses. Copper for December delivery, the active month, closed down 2.50 cents at 296.80 cents/lb after falling to 291.50 cents/lb in mid-morning trading, but rallying in late morning to the 298 cents/lb level. The September spot contract lost 2.45 cents to close at 296.90 cents/lb. Three-months copper on the London Metal Exchange slid nearly $115 to close at $6,489/mt after a weak open at $6,543/mt and lateday selloff in the final ring.