Base Metals

Reuters reported that copper plunged nearly 4 percent due to negative turn in equities, after the U.S. Federal Reserve survey reported poor economic prospects.

Reuters reported that copper plunged nearly 4 percent due to negative turn in equities, after the U.S. Federal Reserve survey reported poor economic prospects.

As quoted in the market news:

Equity markets erased gains and the S&P 500 Index fell more than a percent, taking copper down with it in the metal’s biggest one-day plunge in three weeks, as a wave of risk aversion swept across the broader markets.

“The Beige Book started the late selling and pressured the S&P, and that pushed into the copper market,” said Sterling Smith, an analyst for Country Hedging Inc. in St. Paul, Minnesota.

Click here to read the full Reuters report

MARKETS

Markets
TSX19456.71+202.15
TSXV635.41+15.65
DOW32529.63+332.04
S&P 5004072.43+48.82
NASD12162.59+130.17
ASX6889.70+66.50

COMMODITIES

Commodities
Gold1765.46+10.73
Silver20.12+0.17
Copper3.52+0.05
Palladium2075.50-0.50
Platinum897.00+7.99
Oil98.07+1.65
Heating Oil3.62+0.01
Natural Gas8.19+0.06

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