US copper futures drifted to a softer close on Wednesday, as the dollar strengthened against the euro and lingering debt issues in Europe and potential measures to cool the Chinese economy dimmed the industrial metal's demand outlook, analysts said.
Copper for July delivery dipped 1.85 cents to finish at $3.1880 per lb on the New York Mercantile Exchange's COMEX division. Range from $3.1350 to $3.2440. COMEX estimated final copper futures volume at 34,012 lots, compared with Tuesday's count at 38,390 lots. Open interest down 2,738 lots to 130,991 contracts open as of May 11.
Comments
Comments are closed.