Copper ended down after touching its lowest level in a week on Tuesday, as risk appetite subsided after surprisingly weak German growth data fanned worries about a faltering global economic recovery. Losses were sustained in after-hours business after a meeting between French and German leaders failed to quell concerns about the eurozone debt crisis.
"The market was obviously fixated on whether they would perhaps improbably agree to support the notion of euro bond issuance, where Germany and France would agree to underwrite and guarantee some of the debt issuance for some of the other members," said Peter Buchanan, commodities analyst and senior economist with CIBC in Toronto, Canada. In New York, the September COMEX contract fell by 3.80 cents or 0.94 percent to settle at $3.9940 per lb.
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