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Commodities Briefing - Categorized | Metals and Minerals, Performance more

Base metals enjoy strong performance

Posted on 06 May 2013

Copper has led the London Metal Exchange (LME) to a stellar close, after an interest rate cut from the European Central Bank (ECB) and upbeat US employment data spurred a massive short-covering rally in the recently heavily sold base metals.
At the close of open-outcry trading, LME three-month copper was up some 6.2 per cent on the day at $US7,270 a metric ton, having been dragged out of a bear market by a strong surge of short-covering aided by a stronger euro, heightening the appeal of the US dollar-denominated metals to euro holders………………………………………..Full Article: Source


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