Copper Price Rise On Euro Assurances
NEW YORK (TheStreet) — Copper futures were drifting slightly higher early Tuesday ahead of an expected vote of confidence in Greece later this afternoon.
The stock market opened in positive territory on hopes that Greece would pass through new austerity measures. Fading fears of a global domino effect from the euro fiscal crisis are helping to buoy copper prices.
“There are risks on the horizon,” said independent copper trader Eric Zuccarelli. But, “as uncertainty in Greece gets taken out of the marketplace,” he explained, “trends in copper will shape up even more toward the positive.” Goldman Sachs has projected a 12-month London Metals Exchange copper price forecast of ,000 per ton. …
Copper Price Rise On Euro Assurances
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Tags: Assurances, Copper, Euro, Price, Rise