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[Ferro-Alloys.com] Copper prices firmed up in official trading on Friday July 19 on a round of short covering, settling marginally below prices seen a week ago.

 

Three-month copper settled at $6,924.50/25 per tonne, up from $6,885/87 per tonne a day earlier but down $15 per tonne on a weekly basis. The red metal traded in a tight range throughout the week as market participants digested half-yearly testimony given by Federal Reserve chairman Ben Bernanke to the US Senate. In his second day of testimony on Thursday, Bernanke said it was too early to say whether tapering of the bank’s $85-billion.