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Copper Posted: Fri, 05 Sep 2008 [miningmx.com] -- Copper dropped more than three percent on Friday to its lowest level in more than seven months and below the key $7,000/tonne level after LME inventories posted their biggest one-day surge in four years, said Reuters. A sharp rise in the dollar against the euro and worries about demand also weighed on metals, pushing lead down as much as five percent and causing tin to fall by more than four percent. "This is a very, very significant, one-day jump" that has triggered losses across the base metals complex, analyst Sudakshina Unnikrishnan at Barclays Capital told Reuters. "Macroeconomic concerns are also expected to continue to weigh on prices, at least in the near term."
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