Nickel slips in LME trade:
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Copper extended gains in early business at the London Metal Exchange on Friday, supported by an outlook of strong demand for the Industrial metal from china. The industrial metal was quoted at $6,830/6,840 per tonne at 1124 GMT, up $100 from its closing price on Thursday. Looking forward, the demand from China is rising strongly and accelerated GDP growth to 11 percent in 2007 does not point to an end of these trend analysts at Dresdner Kleinwort said a market report. We forecast copper to reach $7,600 per tonne this year, the invest bank said. If copper does hit it level, it would still be more than $1,000 below the all-tome high it touched in May last year. At Friday’s prices, it has risen more than $700 since the start of 2007.
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Source : Business Line |
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