Copper Eases By 1 Percent On First Trading Session Of The Quarter (03-Jul-2012)
Copper ticked lower by 1% on Monday, leaving behind last week's short covering rally, as weak US manufacturing data raised concerns about demand for the red metal. The metal also crumbled as slump of factory activity in China and Japan re-ignited worries about global economic slowdown and also as dollar rebounded.
Copper futures for September delivery ticked lower by 0.78% to settle at $3.469 per lb, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange, dripped by 1% at $7,625 per ton from $7,690 on Friday.
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