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Cu holds onto gains in thin LME officials

March 16, 2010 - 13:23 GMT Location: London

KEYWORDS: clementine wallop , copper , aluminium , nickel , london metal exchange

Copper held onto its early gains in ring trading on the London Metal Exchange on Tuesday as market sentiment stabilised

The red metal settled at $7,390/90.5 per tonne, up from $7,310.25 per tonne at the open. The contract traded no lower than $7,300 per tonne and changed hands as high as $7,430 per tonne. Base metals regained confidence in Tuesday’s trading after weaker prices in Monday’s kerb business as concerns over tightening liquidity in China rattled the market. “The base metals complex […] traded slightly lower over the day as the dollar gained strength and concerns about China’s inflation continued to weigh on metals and oil,” a broker said in a note. But the ring session was quiet on Tuesday given the sharp moves in the copper price and the improving sentiment, a ring trader said. “It’s quiet, the volumes...

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