Copper Tuesday

corrosionx-marine

 

Copper steadied on Tuesday alongside the dollar though some analysts expected prices to retreat further as the market fully takes into account prospects for weak demand growth in top consumer China.  Benchmark copper on the LME was trading 0.2 percent higher at $4,697 a tonne ($2.13/lb), while Shanghai Futures Exchange copper traded down by 1 percent at 35,890 yuan ($5,504) a tonne ($2.50/lb).  A sell off started last week due to a stronger U.S. currency and weak manufacturing data from China.

 

May COMEX 210.20, down 20 pts

Jun COMEX 210.20, down 20 pts

Jul COMEX 210.45, down 20 pts

LME 3 Month Copper 4,694.00, Cash = 213.40 ¢/lb

COMEX Stocks unchanged. Total COMEX 58,750 mt

LME Stocks up 1,300 mt. Total LME 160,900 mt

Shanghai Stocks up 1,274 mt, Total Shanghai 313,168 mt (06MAY16)

Stocks GT:  532,818 mt

Euro 1.1373

WTI Crude Oil 43.77, up 0.33

Brent Crude Oil 44.48, up 0.85

Spot Gold 1,263.90

Founder and President of Vertical Datacom, Inc

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