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Metal prices fall as European worries weigh

Metal prices fall as European worries weigh

Industrial metal prices are falling as a sagging stock market causes worries that global demand and factory production could weaken.
Copper for December delivery fell 6.85 cents to settle at $4.056 a pound. October platinum fell $26.60 to $1,858.20 an ounce and December palladium fell $33.65 to $749.55 per ounce.
The prices fell in tandem with global stock prices. The value of industrial metals usually tracks with investors' confidence about future economic growth. The metals are used as raw materials in many kinds of manufactured goods, from iPads to automobiles.
Stocks were battered Tuesday by worries that the European debt crisis could continue to roil financial markets and curtail consumer demand.


Updated : 2021-06-18 19:20 GMT+08:00