Copper up on equities, strong euro
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Copper rose in London, rebounding from the biggest drop in five weeks, as equities advanced and the euro strengthened after Greece's parliament approved austerity measures.
Copper for three-month delivery climbed 0.6 per cent to $8,533 a tonne by 10:17 a.m. on the LME. Prices slid 3.2 per cent on Feb. 10, the most since Jan. 4. March-delivery copper rose 0.6 per cent to $3.8835 a pound on the COMEX in New York. Copper stockpiles monitored by the LME rose 0.2 per cent to 313,500 tonnes. They're still down 5.2 per cent this month, on course for a fifth straight drop. Orders to draw the metal from warehouses advanced 1.1 per cent to 83,100 tonnes on an increase in New Orleans.
Aluminium for three-month delivery on the LME rose 0.4 per cent to $2,254 a tonne. Zinc gained to $2,093 a tonne and lead climbed to $2,160 a tonne. Nickel increased to $20,950 a tonne and tin advanced to $25,390 a tonne.
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Source : Business
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