US copper futures ended lower on Thursday, as a stronger dollar and concerns about economic recovery from weak June US unemployment data weighed on values ahead of the long holiday weekend. New York commodity markets will be closed Friday in observance of the US July 4 Independence Day holiday. Markets will reopen on Monday.
Copper for September delivery settled down 2.50 cents at $2.3055 a lb on the New York Mercantile Exchange's COMEX division. Range from $2.2660 to $2.3440. On Wednesday, the benchmark contract rallied to a 2-1/2-week peak at $2.3690. COMEX estimated futures volume at 12,653 lots by noon EDT (1600 GMT). Final Wednesday volume 19,363 lots.
US manufacturing shrank in June but at a slower pace than in May, according to the Institute for Supply Management. Similar surveys in Europe also showed manufacturing contracting less than initially thought, while China's output grew modestly. COMEX copper stocks flat at 59,795 short tons as of Wednesday. LME copper for three-months delivery closed down $55 at $5,035 a tonne.
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