DJ BASE METALS: Comex Copper Seen 6 Cents Lower At Pit Open
March copper futures are expected to open floor trading
around 6 cents lower Thursday, based on electronic activity ahead of the pit
session on the Comex division of the New York Mercantile Exchange.
In overnight activity, benchmark March copper futures on the Shanghai Futures
Exchange settled lower Thursday, shedding gains from a three-day rally and
tracking overnight losses in three-month London Metal Exchange copper.
U.S. economic reports on Thursday include Jan. 3 jobless claims at 8:30 a.m.
EST (1330 GMT), with weekly jobless claims expected up 63,000 at 555,000.
Inventories of copper stored in London Metal Exchange warehouses rose 6,375
metric tons Thursday, leaving them at 357,700. The most recent Comex inventory
data, released late Wednesday, were up 395 short tons at 34,995 short tons.
-By Matt Whittaker, Dow Jones Newswires; 201-938-5959;
matt.whittaker@dowjones.com
