The risk-off sentiment manifest in the pits in metals was also notable in crude oil, copper, and stock futures.
Strong FAI is bullish for commodities demand as increased industrial activity and construction gobbles up more cement, iron ore, crude oil and copper.
In the initial break in 2008 after the failure of Lehman Brothers, stock markets and industrial commodities such as crude oil and copper fell quickly.
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Economically sensitive stuff like crude oil and copper fell.
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Beijing evidently took advantage of low prices to stockpile, thereby pumping up imports, a tactic it employed in October when enterprise managers and central technocrats went on foreign shopping sprees for, among other items, crude oil and copper.
Meanwhile, those same worries have led to ideas that demand could suffer for industrial commodities, which includes platinum along with the likes of copper and crude oil.
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Commodities were in focus once again, as copper and crude-oil prices fell sharply as investors dumped assets across the commodity complex due to broad-based risk aversion and lingering concerns over growth in China.
Higher crude oil prices supported copper Thursday.
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While iron ore, metallurgical coal, copper, and crude oil faced temporary supply side disruptions that boosted prices excessively, the longer-term, commodity super cycle remains intact.
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Sharply lower crude oil prices today also pressured copper prices.
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The key outside markets were bearish for copper Wednesday as the U.S. dollar index was firmer and crude oil prices were weaker.
The key outside markets were bullish for copper Tuesday as the U.S. dollar index was lower and crude oil prices were sharply higher.
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The key outside markets were in a bullish posture for copper today, as the U.S. dollar index was weaker and crude oil prices were higher.
The key outside markets were in a bearish posture for the copper market as the U.S. dollar index was sharply higher and crude oil prices were solidly lower.
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The key outside markets were in a bearish posture for the copper market today as the U.S. dollar index was sharply higher and crude oil prices were lower.
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