US copper rebounds
Reuters
By our correspondents
October 04, 2015
New York
New York copper prices closed up almost 1 percent on Friday as weaker-than-expected US jobs data pressured the dollar, offsetting lingering concerns about U.S. economic growth and demand from top consumer China.
Prices in London and New York fell over 1 percent to intraday lows immediately after data showed the United States created fewer jobs in September than expected, fueling concerns about global growth.But prices staged a comeback mid morning in New York as buy orders swept across the complex lifting copper out of negative territory after the U.S. dollar got "smacked," a New York trader said.
The most-active COMEX copper futures for delivery in December settled up almost 1 percent at $2.3255 per lb, clawing back over 2 percent from the intraday low of $2.273.
About 40 percent of the day's December futures volume changed hands in the hour around 10 am EDT (1400 GMT).
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