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Copper & Coal Log Losses on Friday

September 26, 2015 at 1:09 by Vladimir Vyun

Copper fell on Friday due to concerns about global glut and lack of demand from China. While some major producers reduced output of the metal, analysts are still worried that the market may still end the year with surplus. Of course, prospects for monetary tightening in the United States do not help the metal either. Futures for delivery of copper in December slipped 0.83 percent to $2.2835 per pound on COMEX.

Coal price also dropped on Friday. The commodity has lost almost two thirds of its value during the past four years due to its alleged contribution to carbon emissions and global warming. While some members of the coal industry have been trying to change the negative public perception, it looks like their attempts were futile. Contract for delivery of coal in January settled $0.25 lower at $50 per metric ton on NYMEX.

If you have any questions and comments on the commodities today, use the form below to reply.

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