Copper softens as growth worries offset stimulus hopes

Copper edged down on Wednesday, in a volatile session, as uncertainty about the outlook for global growth reinforced concerns about demand for metals, but losses were limited by prospects for more stimulus measures from the Federal Reserve, reinforced by flat U.S. inflation data.

Three-month copper on the London Metal Exchange (LME) closed at $7,385.50 a tonne, 0.4 percent down from a close of $7,416 a tonne on Tuesday.

Trading volumes were light due to the Northern Hemisphere summer holiday, with markets in a number of European countries shut for the Assumption Day holiday.

"Sentiment is still pretty negative towards the growth outlook and markets now are waiting to see whether we do get some sort of policy response and if so, what form that takes and what the implications could be for metals demand," said Gayle Berry, analyst at Barclays Capital.

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- Posted: 2012-08-15 15:19:02

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