Copper Futures Advance to Two-Week High as Energy, Economic Concerns Ease

[Playinghardball]

Source: Bloomberg

Copper rose to a two-week high as concerns eased that metal demand will dwindle amid a decline in energy costs and more signs of a U.S. economic recovery.

Crude-oil futures dropped as the Arab League weighed a proposal from Venezuela’s Hugo Chavez to mediate the conflict in Libya. Initial jobless claims unexpectedly declined last week to the lowest level since May 2008, indicating a strengthening labor market in the U.S., the world’s second-biggest copper consumer. The price of the metal rose to a record last month.

Read more at: http://www.bloomberg.com/news/2011-03-03/copper-fluctuates-on-report-of-libya-mediation-stocks-at-seven-month-high.html

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