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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Copper futures climb as reddish metal heads toward monthly loss

May 29, 2012 12:14 PM

Copper futures gained in value on Tuesday, prompted higher in value by a weakening U.S. dollar and speculation about monetary easing in China, according to Reuters.

But the advances for the reddish metal with myriad uses in construction, industry and manufacturing were tempered by deepening concerns for the integrity of Spanish banks suffering under the duress of the sovereign debt crisis. The industrial metal thus far has fallen about 8 percent this month as it barrels toward a third consecutive month of losses.

"Copper is supported by a weaker dollar and some month-end repositioning. Hedge funds will continue to sell on the increases," consultant Gianclaudio Torlizzi with T-Commodity told the news source. "Fundamentals are not bad but the macro picture is worrying. People haven't priced in the European situation yet."

At 12:19 p.m. on Tuesday, copper futures increased 0.26 percent, a 0.009 cent lift to $3.457 per pound.

Dow Jones Newswires reports acquisition of copper was viewed as a bargain on Tuesday after the reddish metal last week scraped its lowest price in 120 days.

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