BLBG: Copper Drops as Dollar Gains, Concern Mounts Rally Went Too Far
Copper fell from yesterday’s seven- month high in New York as the dollar strengthened and on mounting concern that prices have outpaced demand.
Copper futures for July delivery dropped 1.95 cents, or 0.8 percent, to $2.278 a pound at 8:16 a.m. on the New York Mercantile Exchange’s Comex division. The most-active futurtes reached $2.353 yesterday, the highest price since Oct. 15.
