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US copper leaps 8 pct on broad commods recovery

Posted on 14 October 2008

From Reuters: U.S. copper futures closed almost 8 percent up Monday, in line with the broad rebound in commodities and equities, as investors cheered rescue plans for banks from governments around the world.

News that Chile’s Escondida, the world’s biggest copper mine, had declared a force majeure last week after a mill shutdown also boosted investor confidence in the red metal. Copper for December delivery HGZ8 finished up 16.80 cents, or 7.83 percent, at $2.3125 a lb on the New York Mercantile Exchange’s COMEX division….. Full Article: Source


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