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Shanghai copper gains as China pledges Europe help

February 15, 2012 - 07:56 GMT Location: Shanghai

KEYWORDS: SHFE , Shanghai , copper , aluminium , zinc , lead , price

Shanghai Futures Exchange copper climbed for the first time this week on Wednesday as sentiment improved after China agreed to play more of a role in helping to resolve the European debt crisis.

SHFE May copper settled at 60,540 yuan ($9,609) per tonne, up 290 yuan from Tuesday. Its trading volume also increased 11% to 429,454 lots. China, which holds the world’s largest currency reserves, can provide help through avenues including the central bank and its sovereign wealth fund, according to Bank of China Governor Zhou Xiaochuan. The nation is willing to get "more deeply" involved in helping Europe deal with its debt...

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