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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 slide amid questions about China

Mar 14, 2012 01:44 PM

Copper futures lost 1 percent of their value on Wednesday, pulled down by nebulous circumstances surrounding the globe's top demanding nation for the reddish metal, according to Reuters.

A day after notching its top value in one week of trading sessions, the industrial metal also lost value as the U.S. dollar gained strength following the U.S. Federal Reserve meeting on Tuesday. But questions about China's slow recovery and the 40 percent of global copper consumption by the Asian nation weighed heavily on market sentiment.

"The key event this week is people scaling down expectations of quantitative easing. Bernanke's speech yesterday made it less likely. The U.S. economy has been steadily recovering so they don't need it now," analyst Andrey Kryuchenkov with VTB told Reuters. "Copper inventories are dwindling, cancel led warrants are amazingly resilient and premiums are up in Europe, but you still need that fundamental Asian push which we have not seen yet."

At 2:51 p.m. on Wednesday, copper futures slipped 1.67 percent, a 6.5 cent slide to $3.8375 per pound.

Dow Jones Newswires reports the strong Chinese real-estate market is a key source of demand for the industrial metal, which is used for myriad uses including electrical wiring and plumbing.

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