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Likelihood of Chinese Inflation Increase Pulls Copper Back
May. 10, 2013 06:57AM PST
Base Metals Investing Bloomberg reported that copper, although on track for a third weekly gain, retreated on Friday on speculation that Chinese inflation may be on its way up.
Bloomberg reported that copper, although on track for a third weekly gain, retreated on Friday on speculation that Chinese inflation may be on its way up.
As quoted in the market report:
Copper for delivery in three months lost as much as 1.1 percent to $7,275.25 a metric ton on the London Metal Exchange before trading at $7,345 as of 9:55 a.m. Shanghai time. The metal has gained 1 percent so far this week, poised for a third weekly climb.
