US copper futures finished sharply lower on Thursday as a resurgent dollar prompted profit-taking from two-year peaks, as some feared jobs data the next day may lessen the chance of further quantitative easing. Copper for December delivery closed 7.35 cents or 1.96 percent lower at $3.6795 per lb on the COMEX metals division of the New York Mercantile Exchange.
The declines followed the highest close for a third position contract since July 14, 2008 on Wednesday. Range ran from $3.7845 down to $3.6565, a 2.25 percent loss. The 26-month high hit on Wednesday was $3.7895 a lb. COMEX estimated final copper futures volume at a hefty 46,502 lots. Wednesday's final tally was lighter at 29,300. Open interest rose 996 lots to 154,453 contracts as of October 6.
Comments
Comments are closed.