Copper rises in LME trade

Print this page Posted on : 12-21-2007 by recycleinme.com

London copper futures rose 2 per cent on Friday, following a surge in the Chinese market that shrugged off another interest rate rise on expectations of strong demand, analysts said.

Copper on the London Metal Exchange (LME), often seen as a reliable indicator of real economic activity, was up $120 from Thursday’s close at $6,650/6,670 per tonne by 1125 GMT.

Lead slipped $2 to $2,600/2,620 per tonne.

Aluminium was $8 at $2,415/2,420 per tonne, nickel was up $550 at $26,800/26,900 per tonne, zinc was up $60 at $2,370/2,390 per tonne and tin was unchanged at $16,200/16,300 per tonne.

Source : Business Line