US copper ends sharply lower on resurgent dollar
NEW YORK, June 15 (Reuters) - U.S. copper futures ended with sharp losses on Monday, as a strong dollar fed a wave of liquidation across the broader commodities complex, helping to drag prices of the metal further away from last week's eight-month high.
For detailed report on global copper markets, click on [MET/L]
* Copper for July delivery HGN9 plunged 8.85 cents, or 3.7 percent, to settle at $2.2850 a lb on the New York Mercantile Exchange's COMEX division.
* Session ranged from $2.2690 to $2.3945.
* July copper contract under technical pressure after failing to post a weekly close above the major low in February 2007 at $2.38 a lb - CitiFX technicians.
* Next downside objective at $2.23 support. A close below there would open the way for much lower levels - CitiFX technicians.
* Last week, a down dollar, strong import data from China, and upbeat economic data from the U.S. drove the July copper contract to an eight-month peak at $2.4575.
* COMEX estimated futures volume at 28,883 lots by 1 p.m. EDT (1700 GMT). Final volume on Friday at 33,297 lots.
* Open interest went down by 1,621 lots to 113,5-09 contracts open as of June 12. Continued...
One Year Later
A year after militants laid siege to Mumbai, the country still remains very vulnerable. Full Article | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article











