Copper dropped a third straight day to the lowest in a week but metals markets were supported by a weaker dollar and strong oil prices. The Fed is to make an announcement at 2:00 pm eastern today and is likely to keep rates steady however a weak limp wrested Fed could weaken the dollar and support commodities priced in dollars.
Apr COMEX 223.15, down 1.70 ¢May COMEX 222.70, down 1.50 ¢Jun COMEX 223.15, down 1.15 ¢
LME 3 month Copper 4937.5, Cash = 224.5 ¢/lb
COMEX Stocks down 476 mt, Total COMEX 60,420 mt
LME Stocks down 275 mt, Total LME 152,200 mt
Shanghai Stocks down 253 mt, Total Shanghai 331,689 mt (22 APR16)
GT: 544,309 mt
Euro 1.1315
WTI Crude Oil 44.89, up 0.85
Brent Crude Oil 46.62, up 0.88
Spot Gold 1249.00
