Saturday, Apr 14, 2012
(This story was originally published Thursday.)
DUBAI (Zawya Dow Jones)--The Dubai Gold and Commodities Exchange, or DGCX, said Thursday it will launch trading of copper futures on Friday, April 20, the first in the Middle East.
The 5 metric ton, cash-settled contract provides the optimal tool to hedge and mitigate price risk in physical copper and provides investors with access to one of the most liquid metal contracts in the world, the exchange said in an emailed statement.
On the global markets, copper prices have come under pressure in recent weeks from concerns about soft physical demand from Chinese fabricators.
Benchmark three-month copper was trading at $8,114.50 up 0.9% from its previous settlement, on the London Metal Exchange Thursday.
-By Brinda Darasha, Dow Jones Newswires; +9714 446-1688; brinda.Darasha@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
14-04-12 0657GMT
