Resource News
Copper up as equities rise, but China weighs
By admin · May 26, 2009 · 11:31 am · Leave a Comment
* Equities rebound on US consumer confidence data
* China quietly selling 50,000 T imported copper locally
(Updates closing prices, adds comment/detail)
By Rebekah Curtis and Maytaal Angel
LONDON, May 26 (Reuters) – Copper prices rebounded from a near 3 percent drop on Tuesday as rallying equities and robust U.S. consumer confidence data helped offset investor concerns over domestic copper sales by China.
Copper for three-months delivery on the London Metal Exchange closed at $4,660 a tonne from $4,610 in the previous session. Earlier, the metal used in power and construction, hit a low of $4,480…Read More…
