Copper Pare Gains As Fed Minutes Dents Hopes Of Policy Easing (12-Jul-2012)
Copper pared gains in after hour's trade on Wednesday, as the US Fed June meeting concluded with no hopes for further monetary easing unless the US economy dampens further. The red metal also gained as investors eye on China's second quarter economic growth, which accounts for around 40 percent of global copper demand and also as dollar rallied to two-year highs against euro.
Copper futures for September delivery was up by 1.15 cents at $3.4145 per lb, but backed away from its settlement at $3.4475 in the session, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange was up by $49 at $7,539 per ton.
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