Colosseum a.s. (Colosseum a.s.)
Macroeconomics  |  February 27, 2013 12:43:28

Higher January new home sales in the U.S. to stop the fall of copper prices

ColosseumThe largest price increase for the past two weeks scored in yesterday's trading session on the Comex exchange within the CME group most active futures contract on copper. This was a response to the positive results of the new sales statistics in the U.S. According to the U.S. Department of Commerce's new home sales rose in the United States in January compared to December last year by 15.6%, while the highest level since July 2008. These so suggests an increase in demand for building materials, including copper. The increase in prices was further supported by a statement of Ben S. Bernanke, said in a statement that advocated a program of government incentives to support the domestic economy, at a time when they are in government corridors are increasingly listening to their opinions, according to which the time has come aforementioned incentive measures to reduce or stop altogether.Copper futures for the May delivery date strengthened during yesterday's trading session on the Comex exchange of 0.6% to the closing price of 358.30 cents per pound weight.

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