Copper Futures Declines as Dollar Rebounds, Eroding Appeal of Commodities
Copper fell as the dollar erased a decline, eroding demand for commodities
as alternative assets.
Melanjutkan antisipasi outlook singkat dalam posting kemarin ("bagaimana
KOMODITAS b-e-s-o-k dst???",
http://groups.yahoo.com/group/saham/message/87929) berikut rekap pergerakan
hard commodity LME/ per 21 Oktober 2010.
Moral of the story: waspada hard commodities: coal / mineral & mining /
STEEL + precious metals
LME Alum 3 Mo - 0.72%
LME Copper 3 Mo - 0.48%
LME Nickel 3 Mo - 1.65%
LME Tin 3 Mo - 1.12%
CMX Gold 3 Mo - 0.2%
Copper Futures Declines as Dollar Rebounds, Eroding Appeal of Commodities
By Pham-Duy Nguyen - Oct 22, 2010 12:45 AM GMT+0700
The greenback was up 0.3 percent against a basket of major currencies after
dropping as much as 0.4 percent. Copper has climbed 8.7 percent since Sept.
1 while the dollar slumped 6.2 percent as traders bet the Federal Reserve
will further ease monetary policy to stimulate the U.S. economy. Policy
makers meet on Nov. 3.
“Everything, including copper, is taking its cue from the dollar ahead of
the Fed announcement,” said Matthew
Zeman<http://search.bloomberg.com/search?q=Matthew%20Zeman&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja>,
a metal trader at LaSalle Futures Group in Chicago.
Copper futures for December delivery fell 1.2 cents, or 0.3 percent, to
$3.7815 a pound at 1:20 p.m. on the Comex in New York. Earlier, the price
climbed as much as 1.5 percent.
The Thomson Reuters/Jefferies CRB Index of 19 raw materials dropped as much
as 1.1 percent after approaching the highest level in two years.
The Fed has kept its benchmark lending rate at zero percent to 0.25 percent
since December 2008 and purchased Treasuries and mortgage-backed securities.
Earlier, copper rose after a report showed economic growth in China, the
world’s largest user, topped economists’ estimates.
“The Chinese demand stories are still out there,” said Frank
Lesh<http://search.bloomberg.com/search?q=Frank%20Lesh&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja>,
a trader at FuturePath Trading in Chicago. “China’s economy is still
expanding, and China is the big mover on copper.”
In London, copper for delivery in three months fell $33, or 0.4 percent, to
$8,307 a metric ton ($3.77 a pound). Aluminum, nickel and tin also dropped.
Lead and zinc gained.
