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Re: sps50 post# 147655

Monday, 01/12/2015 7:36:06 PM

Monday, January 12, 2015 7:36:06 PM

Post# of 173238
Copper at a new 5 year low today Bloomberg
http://www.bloomberg.com/news/2015-01-12/copper-falls-below-6-000-to-five-year-low-on-demand-concerns.html

On the Comex in New York, copper futures for March delivery dropped 1.1 percent to $2.7255. The price touched $2.70, the lowest for a most-active contract since Oct. 5, 2009. Aggregate trading was 27 percent more than the average in the past 100 days, according to data compiled by Bloomberg.



On the London Metal Exchange, copper for delivery in three months slid 1.2 percent to settle at $6,017 a metric ton at 5:50 p.m. Earlier, the price touched $5,966, the lowest since October 2009. The commodity hasn’t posted a gain since Dec. 30.

The $6,000 price is “a psychologically and technically important level,” said Gianclaudio Torlizzi, a partner at T-Commodity in Milan, who predicted a drop to $5,800.

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