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  • Oct 29th, 2005
  • Comments Off on US MIDDAY: copper dives on huge inventory injections
US copper futures trimmed sharp losses sustained on huge inventory injections, helped by the US economy growing at a faster-than-expected clip in the third quarter, traders said on Friday.

Copper fell overnight when the weekly inventory reading in Shanghai Exchange warehouse stocks surged, but brokers said selling at the COMEX exchange was moderate at best.

Copper for December delivery was down 2.20 cents at $1.7820 a lb at the COMEX division of the New York Mercantile Exchange, after falling as low as $1.7720 after the open.

October copper came off the board on Thursday and November moved into the spot position. It fell 1.70 cents to $1.8470 a lb.

Copyright Reuters, 2005


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