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NEW YORK (AP) - A combination of bearish fundamental influences ganged up to knock copper futures sharply lower Thursday, with recent long liquidation continuing.
The most-active July copper contract tumbled 11.60 cents to settle at $3.3065 per pound on the New York Mercantile Exchange. This comes one day after an 11.50-cent fall.
"We have fallen to (an) extent already where people are reluctant to step in front of it," said Tim Evans, analyst with Citi Futures Research. "It's a little bit of a falling knife and they're afraid of how much further it may drop.
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