Metal futures markets: copper and other base metals fell as the dollar rose|copper pipe sizes

 

 

SHMET9 26th, Reuters:
* Dollar index climbed to a four-year high
* Citi: excessive worry that weak copper Outlook
* UBS more pessimistic due to increased supply
Reuters, London, September 25 – copper and base metals fell on Thursday, and may fall further, as the strong dollar and weak market worried that the global economic growth will limit demand.
The dollar index climbed to a four-year high, the euro fell to lowest in November 2012.
The USD makes dollar-denominated commodities to the United States more expensive buyers outside.
"I expected to fall further, and not just metal. The dollar and the Fed may say and do to markets in the coming months will be affected, "the France Societe Generale Bank analyst Robin Bhar said.
"As we look to the fourth quarter demand Outlook, there are some concerns. United States economy is really quite good, but China, Japan and the euro zone is not anything of real growth. ”
Thursday United States data released showed that rebound in business spending plans and the number of initial claims for State unemployment benefits last week than expected, supporting a United States economic recovery.
Copper LME three-month low of 0.7% at 6,695 dollars, fell to a three-month intraday low of 6,676. pare losses in after $ 75.
Citigroup analysts said weakness in the copper market investors may worry too much about the fundamentals, referring to Chinese demand had positive signs, including increases in July and August cable production.
But UBS commodities analyst Daniel Morgan was more cautious, more pessimistic about the performance of copper in the fourth quarter he said, "because the increase in supply this year and next."
In other metals, NI LME three-month low of 0.43% to close at 17,325 dollars per ton. Three-month Tin declined the most, down 2.5%, closed at 20,750 dollars per ton, a 13-month low point. Three-month aluminium closed at two-month low of $ 1,950 per ton or 1.3%. Three-month zinc slipped 0.66% and submitted to 2,266 dollars per ton. Three-month lead fell 0.96% to close at US $ 2,073 per ton

SHMET9 26th, Reuters:

 

 

* Dollar index climbed to a four-year high

 

 

* Citi: excessive worry that weak copper Outlook

 

 

* UBS more pessimistic due to increased supply

 

 

Reuters, London, September 25 – copper and base metals fell on Thursday, and may fall further, as the strong dollar and weak market worried that the global economic growth will limit demand.

 

 

The dollar index climbed to a four-year high, the euro fell to lowest in November 2012.

 

 

The USD makes dollar-denominated commodities to the United States more expensive buyers outside.

 

 

"I expected to fall further, and not just metal. The dollar and the Fed may say and do to markets in the coming months will be affected, "the France Societe Generale Bank analyst Robin Bhar said.

 

 

"As we look to the fourth quarter demand Outlook, there are some concerns. United States economy is really quite good, but China, Japan and the euro zone is not anything of real growth. ”

 

 

 

Thursday United States data released showed that rebound in business spending plans and the number of initial claims for State unemployment benefits last week than expected, supporting a United States economic recovery.

 

 

Copper LME three-month low of 0.7% at 6,695 dollars, fell to a three-month intraday low of 6,676. pare losses in after $ 75.

 

 

Citigroup analysts said weakness in the copper market investors may worry too much about the fundamentals, referring to Chinese demand had positive signs, including increases in July and August cable production.

 

 

But UBS commodities analyst Daniel Morgan was more cautious, more pessimistic about the performance of copper in the fourth quarter he said, "because the increase in supply this year and next."

 

 

In other metals, NI LME three-month low of 0.43% to close at 17,325 dollars per ton. Three-month Tin declined the most, down 2.5%, closed at 20,750 dollars per ton, a 13-month low point. Three-month aluminium closed at two-month low of $ 1,950 per ton or 1.3%. Three-month zinc slipped 0.66% and submitted to 2,266 dollars per ton. Three-month lead fell 0.96% to close at US $ 2,073 per ton

 

 

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