Dan Kenobi
/ 83.5.240.* / 2009-10-19 11:55
Na surowce nie widać popytu. W czasie londyńskiego "Metal week" dziwili się gdzie znikli kupujący.
Copper prices fell on Friday as an increase in supplies suggested weaker demand for the industrial metal and economic confidence waned amid disappointing quarterly results from U.S. banks.
"Simple market consolidation today," said Sterling Smith, an analyst for Country Hedging Inc in St. Paul, Minnesota.
"Weakness in equities and a mixed dollar picture really isn't giving the market much direction."
Copper for December delivery on the New York Mercantile Exchange's COMEX division fell 1.35 cents to settle at $2.8455 a lb, after dealing between $2.81 and $2.8750.
On the London Metal Exchange , benchmark copper ended at $6,240 a tonne from Thursday's last bid at $6,289.
One major theme to emerge during London Metal Exchange Week is weak consumer demand, highlighted in interviews carried out by Reuters correspondents. [ID:nL8107826]
"Demand is what should drive prices, people keep telling us there isn't any demand but fund money has been the main factor," said John Meyer, analyst at investment bank Fairfax.
"I wonder whether more consumers are going directly to mining companies rather than trading through the LME."
Weak demand is highlighted by stocks of copper in LME warehouses, which at above 357,000 tonnes are up nearly 40 percent since the middle of July and at their highest since early May.