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CLOSE TO CLOSE: Copper the laggard at LME close after week of gains
January 20, 2012 - 17:29 GMT
Location:
London
KEYWORDS:
LME
,
kerb
,
copper prices
,
base metals
,
lead
,
zinc
,
Chinese monetary policy
Copper prices closed up 2.75% on a weekly close-to-close basis on the London Metal Exchange, registering the slimmest gains of all base metals.
Three-month copper closed at $8,220 per tonne, down from $8,365 per tonne on Thursday January 19 but up from $8,000 on January 13.
The red metal peaked above $8,400 per tonne earlier in the week as rumours of Chinese monetary easing and further signs of recovery in the US economy provided support.
The strong run in copper prices was losing momentum at the start of pre-market trading on Friday, and technical profit taking pushed copper to...
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Euromoney Institutional Investor PLC.
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