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Copper futures tumbled to five-month lows|copper pipe manufacturers

 

 

 

* Aluminium tumbled to a three-month low
* Fears over European and Chinese growth
* The dollar extended gains, weight of commodity prices
Reuters, October 2-copper and aluminium dropped to multi-month lows on Thursday, as the European Central Bank policy meeting failed to inspire confidence in the future growth of the region, amid concern demand for metals.
The dollar could further strain on a price. Figures released today showed that United States economic recovery to accelerate, support United States the possibility of interest rate rises.
Benchmark LME three-month copper fell 1.2%, reported a five-month low of US $ 6,600 a tonne.
European stock markets fell on Thursday, as the European Central Bank Chief Mario Draghi said investors doubted the Central Bank's ability to boost to the regional economy.
Markets had been hoping the Central Bank will be offering a further stimulus, because of the previous day's data show that Germany manufacturing activity shrunk for the first time in 15 months. And investors are beginning to fear the biggest metals consumer China's economic growth.
Despite the dollar index fell on Thursday, but will not affect the streak for 11 weeks, recorded a strong performance of the best quarterly performance in six years.
Said Michael Lewis, global head of commodities research at Deutsche Bank, from historical trends, the dollar typically six-year cycle from peak to trough, during which about the 40%.
"The current from the dollar rally continued in terms of time, some 18% dollar index's upside, the dollar's gains are basically starting in July 2011, so current rising cycle has just more than half," he said at the London global commodities week Conference.
"As a result, commodity market Outlook will continue to face a lot of problems. ”
Data released on Thursday showed that United States initial claims for State unemployment benefits last week unexpectedly decreased supply may show that the job market is tightening.
Friday United States monthly nonfarm payrolls report will be published, if the data is stronger than expected, the United States Federal Reserve (FED/Federal Reserve) rate hike speculation heats up, thereby strengthening the dollar.
Three-month aluminium fell to the lowest since July 2 $ 1,885, rebounded slightly after to close at 1,889 dollars per ton, down 1.8%.
Other metals, three-month nickel fell 0.4% and submitted to 16,025 dollars a tonne. Three-month Tin closed essentially flat, rose 0.03%, a tonne to $ 20,350.
The current period of three months zinc and lead ended without a deal, final bid price at $ 2,252 a tonne of zinc or 0.8%. Lead for the final bid price at $ 2,080 per ton, down 0.6%

 

* Aluminium tumbled to a three-month low

 

 

* Fears over European and Chinese growth

 

 

* The dollar extended gains, weight of commodity prices

 

 

Reuters, October 2-copper and aluminium dropped to multi-month lows on Thursday, as the European Central Bank policy meeting failed to inspire confidence in the future growth of the region, amid concern demand for metals.

 

 

The dollar could further strain on a price. Figures released today showed that United States economic recovery to accelerate, support United States the possibility of interest rate rises.

 

 

Benchmark LME three-month copper fell 1.2%, reported a five-month low of US $ 6,600 a tonne.

 

 

European stock markets fell on Thursday, as the European Central Bank Chief Mario Draghi said investors doubted the Central Bank's ability to boost to the regional economy.

 

 

Markets had been hoping the Central Bank will be offering a further stimulus, because of the previous day's data show that Germany manufacturing activity shrunk for the first time in 15 months. And investors are beginning to fear the biggest metals consumer China's economic growth.

 

 

 

Despite the dollar index fell on Thursday, but will not affect the streak for 11 weeks, recorded a strong performance of the best quarterly performance in six years.

 

 

Said Michael Lewis, global head of commodities research at Deutsche Bank, from historical trends, the dollar typically six-year cycle from peak to trough, during which about the 40%.

 

 

"The current from the dollar rally continued in terms of time, some 18% dollar index's upside, the dollar's gains are basically starting in July 2011, so current rising cycle has just more than half," he said at the London global commodities week Conference.

 

 

"As a result, commodity market Outlook will continue to face a lot of problems. ”

 

 

 

 

 

Data released on Thursday showed that United States initial claims for State unemployment benefits last week unexpectedly decreased supply may show that the job market is tightening.

 

 

 

 

Friday United States monthly nonfarm payrolls report will be published, if the data is stronger than expected, the United States Federal Reserve (FED/Federal Reserve) rate hike speculation heats up, thereby strengthening the dollar.

 

 

Three-month aluminium fell to the lowest since July 2 $ 1,885, rebounded slightly after to close at 1,889 dollars per ton, down 1.8%.

 

 

Other metals, three-month nickel fell 0.4% and submitted to 16,025 dollars a tonne. Three-month Tin closed essentially flat, rose 0.03%, a tonne to $ 20,350.

 

 

 

 

The current period of three months zinc and lead ended without a deal, final bid price at $ 2,252 a tonne of zinc or 0.8%. Lead for the final bid price at $ 2,080 per ton, down 0.6%

 

 

 

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