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Copper Pares Biggest Monthly Gain Since December as Metals Drop

October 31 2011, 08:38

FMX|Connect- WWW.FMXConnect.com (Reported on 10/31/2011)

Copper Pares Biggest Monthly Gain Since December as Metals Drop

Source: Bloomberg

Copper declined, trimming the biggest monthly advance since December and leading a fall in industrial metals, after Chinese Premier Wen Jiabao said the government will maintain property curbs and the dollar jumped.

Copper for three-month delivery on the London Metal Exchange dropped as much as 3.7 percent to $7,873.25 a metric ton and traded at $7,960.25 by 3:53 p.m. Shanghai time. The contract has gained 13 percent in October, the first increase in three months. January-delivery copper closed 1.7 percent lower at 58,230 yuan ($9,164) a ton on the Shanghai Futures Exchange. To read the full article, Click Here.

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