Copper fell on Monday, retreating from last week’s rally due to weakness in US data and Chinese imports and as concerns about Japan’s nuclear crisis eclipsed longer-term prospects for metals demand there. Three-month copper on the London Metal Exchange closed at $9,405 a tonne, from Friday’s close of $9,510. China’s February imports of refined copper hit a 27-month low due to high stocks of the metal used in construction and power and holidays in the year’s shortest month.
Investors remained focused on Japan where the government, which has been juggling relief work with a race to avert catastrophe at a crippled nuclear plant, has yet to estimate the damage or say how much it may spend on reconstruction.
The markets were also closely following unrest in the Middle East and in Libya, where U.N.-mandated air strikes spurred US crude oil futures up about 1 per cent to around $115 a barrel.
| Our basic needs are: Air, Water and Food. |
| Recent Articles By Arya : - |
No comments:
Post a Comment