COM: Copper: US Futures fall on Dollar vs Euro rally
U.S. copper futures closed down in sympathy with losses in other commodity markets on Monday, as an extended rally in the dollar versus the euro helped keep a lid on the broader complex. London Metal Exchange warehouse stocks shed another 2,125 tonnes on Monday, bringing total warehouse levels to 297,850 tonnes.
May imports of unwrought copper and semi-finished copper production by China, the world's top consumer of the metal, expected to be down from April's all-time record levels as end-user demand wanes. COMEX copper noncommercial net short position rose to 18,654 lots from 17,712 lots the previous week. Open interest grew to 111,357 lots from 107,631 lots in the previous week.
