Commodities prices mostly fall as investors risk appetite wanes; copper leads metals lower
By Stephen Bernard, APThursday, January 28, 2010
Commodities fall as investors cut back on risk
NEW YORK — Commodities mostly fell again as investors become more averse to risk and as demand for basic materials wanes.
Prices for copper have been especially hard hit by China’s efforts to slow down its economy, Kevin Davitt, a senior market analyst at LaSalle Futures Group said Thursday. Rapid growth in China has been an important factor in driving up prices for copper and other commodities recently.
Traders are still on edge about President Barack Obama’s plans to restrict trading by big banks and China’s move to rein in lending and tighten interest rates.
Copper for March delivery fell 12.45 cents, or 3.9 percent, to settle at $3.098 a pound.
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