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| Copper slips after Fed says outlook uncertain |
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| Code:MFN002669 Prpduct:Copper Date: 2010-07-22 |
| Copper eased in Europe on Thursday as confidence in the strength of the economic recovery was dented by Federal Reserve chair Ben Bernanke's assessment of the U.S. economic outlook as uncertain. "Fed Chairman Bernanke has inadvertently fuelled an increase in risk aversion in the wake of his testimony to the Senate," said Credit Agricole in a note. "Although Bernanke noted that he did not see the prospects of a double-dip as a high probability event he stated that the economic outlook is "unusually uncertain"." Rising risk aversion generally dents interest in raw materials like copper, aluminium and zinc. Investors are now awaiting the outcome of European bank stress tests on Friday. Further signs of strain in the European banking sector could further shake confidence in assets seen as higher risk, analysts said. |
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| 08 Sep 2010 | | | Cash Ask | 3M Ask |
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| Copper | 7620.00 | 7635.00 |
| Aluminium | 2120.50 | 2150.00 |
| Zinc | 2170.00 | 2197.00 |
| Lead | 2151.00 | 2179.00 |
| Nickel | 22450.00 | 22400.00 |
| Tin | 20980.00 | 21075.00 |
| Al.Alloy | 2230.00 | 2130.00 |
| NASAAC | 2081.00 | 2110.00 |
| Steel Billet | 506.00 | 527.00 |
| Cobalt | 41000.00 | 40700.00 |
| Molybdenum | 35300.00 | 36000.00 |
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2010-09-09 |
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| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
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MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.00/lb
As of Sept. 3, 2010
(updated twice weekly)
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