Copper start the week downwards and accumulates the largest decline since 2000
Metal Pound ended on Monday at U.S. $ 3.014 in London.
Started downwards last Monday the price of copper in the external market. A pound of raw materials fell 0.6% to close at U.S. $ 3.014 in the London Metal Exchange.-
Given this result, the commodity accumulated a 10.14% decline so far this year, the highest observed since the same period in 2000.
This path has been given although inventories are down 33% this year in London to reach 244,950 metric tons, the lowest since November 2012.
In this context, the dollar ceased operations against the Chilean peso with a slight advance. Thus, the dollar was traded at tips of $ 549.50 buyer and $ 549.80 seller, which is an improvement of 50 cents from Friday’s close.
According to Roberto Silva, research manager of Capital FX, “for now the trend has turned upward in the short term as the dollar keeps on $ 548 and the next resistance is located at $ 553 and breaking this area we could see the crossing even the $ 557. “
Meanwhile, according to the daily report from Xdirect, “the positive performance of external equity markets offset increased demand for dollars to renew operations forward.”
Source: Diario Financiero
