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Base metals soar on QE3 news

Posted on 17 September 2012

Base metals have soared to a sharply higher close on the London Metal Exchange (LME), buoyed by in part by short-covering following news of a further stimulus injection by the US Federal Reserve.
At the close of open outcry trading on Friday, LME three-month copper was up 3.8 per cent at $US8,380 a metric ton, having earlier hit its highest level since May 2 at $8,411/ton. Tin gained the most, rising by more than $US1,300/ton or 6.5 per cent to end the session at $US21,675/ton………………………………………..Full Article: Source


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