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Live Cattle: 40,000 lb (20 tons) ... LME Copper: Metric Ton: USD ($) London Metal Exchange, ... COMEX: SI Other. Commodity Contract size Currency
In 1933, the COMEX was established through the merger of four smaller exchanges; the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange. Through the 1970s, 80's and 90's COMEX, NYMEX, and other exchanges shared a single trading floor [6] in 4 World Trade Center.
Based on Wednesday’s price action, the direction of the July Comex High Grade Copper market is likely to be determined by trader reaction to the main Fibonacci level at $3.0575.
Because of aggressive hedge fund activity, copper has a tendency to trade in one direction for a prolonged period of time once the hedge funds decide to pick a direction.
The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited.The index was originally launched in 1998 as the Dow Jones-AIG Commodity Index (DJ-AIGCI) and renamed to Dow Jones-UBS Commodity Index (DJ-UBSCI) in 2009, when UBS acquired the index from AIG.
And the recent movement in copper prices is a perfect illustration of this risk. Nevertheless, this is a time when investors should be looking at copper stocks to buy.
This protects the farmer from price drops and the buyer from price rises. Speculators and investors also buy and sell these contracts to try to make a profit; they provide liquidity to the system. Some of these exchanges also trade financial derivatives, such as interest rate and foreign exchange futures, as well as other instruments such as ...
"But I go back to the 2000s, I was bullish on oil then as I am on copper today," he added, recalling that crude shot up from $20 to $140 per barrel at the time. "So the upside on copper here is ...