Current copper futures prices moved up to end the week, as metals in general moved up with the broader market, as temporary optimism has pervaded the market, although nothing has changed by sentiment concerning the global economy, rather the economic reality.
Either way, copper for September delivery increased 3.80 cents, or 1.3 percent, to finish at $3.0535 a pound on the COMEX metals division of the New York Mercantile Exchange.
LME copper for three-months delivery ended the day at $6,769 a ton, up from Thursday's close of $6,610 a ton.
Copper inventories have been falling, giving the impression that demand has increased, causing copper prices to rise.
1 comment:
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