Copper Falls on ECB Talk of Mild Recession

Reuters reported that copper inched down as demand hopes diminished after the European Central Bank president commented that the euro zone may see “mild recession” in the latter part of 2011.

As quoted in the market news:

Benchmark copper on the London Metal Exchange fell to $7,821.75 a tonne at 1508 GMT from $7,885 at the close on Wednesday, having earlier hit a session high of $7,930 after the ECB announced a surprise rate cut of 25 basis points.

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