Futures Market News
Copper futures slide as Chinese demand fluctuates
Jun 17, 2011 04:04 PM
But worries about how the euro zone sovereign debt crisis will impact the metal remained, which tempered how much the metal could gain. Still, copper futures appeared to be driving toward their first weekly gain in three weeks.
"The market is pricing the expectation for a pickup in demand in the months ahead," analyst Yu Haijian of Bohai Futures told the news service. "The global economic environment remains fraught with uncertainty, which will keep a lid on prices."
At 4:36 p.m. on Friday, copper futures were down 0.45 percent, a .0185 cent slip to $4.1175 per pound.
Copper futures are impacted by reports about growth and development because of how it is used for manufacturing, construction and other similar-type applications, the Wall Street Journal reports.
China, recognized as the globe's top consumer of metals, is indicating industrial output will remain steady if not pick up since the nation's economy is the globe's most quickly developing.
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