US copper futures tumble at open on recession fear
NEW YORK |
NEW YORK Jan 22 (Reuters) - U.S. copper futures tumbled to their lowest levels in one month early Tuesday on the back of risk aversion sales stemming from fears of a recession in the United States, traders said.
By 8:10 a.m. EST (1310 GMT), copper for March delivery HGH8 was down 15.70 cents or 4.8 percent at $3.0775 per lb on the New York Mercantile Exchange's COMEX division, after registering an overnight low of $3.0120 which was its cheapest since Dec. 21. (Reporting by Chris Kelly; Editing by John Picinich)
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