US MIDDAY: copper plunges

06 Feb, 2009

US copper futures broke back down below $1.50 a lb early Thursday after grim economic data and weak corporate earnings and forecasts suggested a worsening outlook for the world's largest economy. Copper for March delivery slipped 4.00 cents, or 2.6 percent, to $1.4910 a lb by 10:17 am EST (1517 GMT) on the New York Mercantile Exchange's COMEX division.
Range from $1.4810 to $1.55. COMEX estimated electronic volume at 6,997 lots by 10 am.

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