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LME ASIAN WRAP: Copper up on European growth package hopes

June 25, 2012 - 06:06 GMT Location: Singapore

KEYWORDS: London Metal Exchange , LME , copper , aluminium , zinc , tin , lead , nickel

Copper prices on the London Metal Exchange rose from its open in early Asian trading on Monday June 25, after a group of four European countries agreed to push for a growth package, boosting investor sentiment.

At 04:00 London time, three-month copper was up $47.50 per tonne from its open to trade at $7,381 per tonne. Leaders of the big four – Germany, Italy, France and Spain – agreed to lobby for a €130 billion ($163.3 billion) package to stimulate growth in the eurozone ahead of a European Union summit meeting this week. But, German Chancellor Angela Merkel continues to resist pressure for common euro-area bonds or for the...

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