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Lumber Prices Jump; Copper Drops on Lower Demand

September 11, 2010 at 0:16 by Vladimir Vyun

Prices for lumber jumped today as concerns for US economic growth eased. Wholesale inventories in the US grew 1.3 percent, more than predicted. Growing stockpiles suggests that economic recovery retained its momentum. November futures for lumber delivery added $0.5 (0.2 percent) to $227.10 per 1,000 board feet by 13:05 on CME.

Copper fell today on speculation that demand is slowing. Prices also slipped on outlook for slower economic growth in China, the biggest metal consumer. December futures for copper delivery fell $0.037 (1.1 percent) to $3.4065 per pound as of 13:29 on COMEX. Copper for delivery in three months went down $69 (0.9 percent) to $7,486 per metric ton on LME.

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