viernes, 2 de octubre de 2009

BASIC METALS-Copper falls erode U.S. confidence data

Copper prices fell on Friday as investors sold industrial metals, after a series of U.S. economic data eroded confidence and worries about the future increase in demand.
The benchmark copper in London Metal Exchange (LME by its initials in English) operated at $ 5903 a tonne at 1153 GMT from $ 5985 on Thursday.
The September manufacturing data in the U.S., the world's largest economy, were lower than expected, sparking a sell-off on Thursday.
U.S. auto sales fell 23 percent in September, because the dealers were left empty after sales boom driven by the summer program of the Government. The companies most affected were General Motors and Chrysler.
"The market is watching the U.S. manufacturing (.) Sales of cars was very poor," said Dan Smith, analyst at Standard Chartered. "Falling auto sales will have a domino effect (.) The implications go beyond the automotive sector," he added.

Traders said the publication of the September non-farm payrolls on Friday could spark new sales, bringing the copper could fall back towards $ 5818 a ton, a key support level and the lowest since Aug. 18 .Aluminum for delivery in three months was trading at $ 1823 from $ 1858 a tonne on Thursday.
Lead, used material for the manufacture of batteries, it ran $ 2117 to $ 2195 a tonne from late Thursday.
Nickel ran to $ 17,200 from $ 17,425 a tonne on Thursday, the zinc from $ 1877 to $ 1913 and tin from $ 14,275 to $ 14,200.

No hay comentarios:

Publicar un comentario