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CLOSE TO CLOSE: Base metals prices track euro in LME kerb ahead of EU summit

December 07, 2011 - 17:19 GMT Location: London

KEYWORDS: Close To Close , LME , kerb , copper , aluminium , tin

Base metals prices closed strongly in the kerb session at the London Metal Exchange on December 7, as they continued to follow fluctuations in the euro.

“The euro is rallying a bit now, so prices are going up,” a category I trader said. “They’re very closely correlated now.” Three-month copper closed the day at $7,820 per tonne, from its previous closing price of $7,835. The red metal reached a high of $7,950 per tonne in early trading, before falling to a low of $7,743.5. Trading volumes were thin, and few expect that situation...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Comment & analysis

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