London copper futures fell to the lowest level in more than three months on Monday as the dollar rose|elkhart copper fittings

 

 

 

Sydney, September 29 Reuters-London copper futures fell Monday to the lowest level in more than three months, affected by the rising dollar and the world's largest consumer of metals-China worries weigh on economic growth.
United States economy growing at fastest rate since the 2.5-year in the second quarter, positive contributions from all sectors, the Economic Outlook for the second half is a good sign.
But good data to push up the dollar, a dollar-denominated commodity and thus confined.
"The rising dollar is undoubtedly part of the reason, there are other factors that puts broader pressure on other commodities," said UBS analyst Daniel Morgan in Sydney.
"The recent economic data in Europe is a bit weaker, people's views turned slightly bearish on China, and 12-18 months ' ore supply will keep increasing in the future. ”
LME three-month copper dropped to 6,666 dollars on Monday, the lowest level since June 16, 0722GMT decreases were reduced to $ 6,688, still down by 0.5%. Copper prices fell to 1.7% last week.
UBS Morgan said that copper prices should be at $ 3 per pound (US $ 6,614 a tonne) find a support level. The level is expected to entice consumers to buy.
Shanghai Futures Exchange main December copper contract fell 0.1% to 47,640 Yuan per ton.
China's economy faces some difficulties, due to cool the real estate market, puts pressure on economic activity. Instability in overseas demand, suffered hurt exports, industrial production and domestic investment, further exacerbating the risks to China's economy.
However, the official industrial production figures will be released this week, is expected to expected to show in September held steady, helped by industrial orders held steady, for those who are worried about the Chinese economy or quickly lose kinetic energy of people some comfort.
The commodity futures trading Commission (CFTC), data on Friday showed, week ending September 23, hedge funds and fund managers to hold copper NET short position

Sydney, September 29 Reuters-London copper futures fell Monday to the lowest level in more than three months, affected by the rising dollar and the world's largest consumer of metals-China worries weigh on economic growth.

 

United States economy growing at fastest rate since the 2.5-year in the second quarter, positive contributions from all sectors, the Economic Outlook for the second half is a good sign.

 

 

But good data to push up the dollar, a dollar-denominated commodity and thus confined.

 

 

"The rising dollar is undoubtedly part of the reason, there are other factors that puts broader pressure on other commodities," said UBS analyst Daniel Morgan in Sydney.

 

 

"The recent economic data in Europe is a bit weaker, people's views turned slightly bearish on China, and 12-18 months ' ore supply will keep increasing in the future. ”

 

 

LME three-month copper dropped to 6,666 dollars on Monday, the lowest level since June 16, 0722GMT decreases were reduced to $ 6,688, still down by 0.5%. Copper prices fell to 1.7% last week.

 

 

UBS Morgan said that copper prices should be at $ 3 per pound (US $ 6,614 a tonne) find a support level. The level is expected to entice consumers to buy.

 

 

Shanghai Futures Exchange main December copper contract fell 0.1% to 47,640 Yuan per ton.

 

 

China's economy faces some difficulties, due to cool the real estate market, puts pressure on economic activity. Instability in overseas demand, suffered hurt exports, industrial production and domestic investment, further exacerbating the risks to China's economy.

 

 

However, the official industrial production figures will be released this week, is expected to expected to show in September held steady, helped by industrial orders held steady, for those who are worried about the Chinese economy or quickly lose kinetic energy of people some comfort.

 

 

The commodity futures trading Commission (CFTC), data on Friday showed, week ending September 23, hedge funds and fund managers to hold copper NET short position

 

 

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