January 10, 2011
Copper ended down for a
fourth consecutive session on Friday after disappointing jobs data
in the United States tempered some of the economic recovery
optimism behind the metal's early-year rally to record highs.
Prices of the industrial metal pulled further away from record
peaks at $9,754 per tonne in London and $4.4980 per lb in New
York, falling to their lowest levels in two weeks, as investors
slashed growth projections in response to the softer-than-expected
jobs data.
London Metal Exchange (LME) benchmark copper CMCU3 closed
down $45 at $9,425 a tonne, after sinking to a session low at
$9,300, its lowest since Dec. 24.
COMEX copper for March delivery HGH1 shed 4.70 cents to end
at $4.2825 per lb.
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