Euro-zone Debt Concerns Guide Copper Market

Feb. 10, 2010 07:50AM PST

On Tuesday, easing concerns over euro-zone debt spelled relief for copper, and the metal rallied for the second day in a row. The euro has fallen 9 per cent from a 15-month high of $1.5145 reached in late November over fears about fiscal problems in Greece, Portugal and Spain. Last week, concerns that …

On Tuesday, easing concerns over euro-zone debt spelled relief for copper, and the metal rallied for the second day in a row.

The euro has fallen 9 per cent from a 15-month high of $1.5145 reached in late November over fears about fiscal problems in Greece, Portugal and Spain. Last week, concerns that Greece would default on its debt wrecked havoc on the European Markets. As a result, the Reuters/Jeffries CRB Index of 19 raw materials slumped to the lowest since October.

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