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Copper picks up after Greek panic subsides

Date: Fri, 4 Nov 2011 | Author: Paul Sanderson

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After Greece backtracked on plans to hold a referendum on its bailout package yesterday, markets picked up after falling dramatically earlier in the day.

In early trading this morning, copper broke the $8,000 barrier again after slumping to $7,860 (£4,902) yesterday. This compares to $7,925 (£4,950) on Wednesday.

Aluminium increased yesterday to $2,145 (£1,338) from $2,124 (£1,237) the day before. Alloy was up to $2,065 (£1,289) on Thursday compared to $2,055 (£1,284) a day earlier.

Lead was up to $2,010 (£1,254) from Wednesday’s $1,997 (£1,247). Nickel increased to $18,750 (£11,693) on Thursday from $18,675 (£11,665) the day before.

Tin increased to $22,100 (£13,782) from $21,600 (£13,492) on Wednesday. Zinc edged up to $1,930 (£1,204) from $1,921 (£1,200).

Steel was unchanged on $525 (£328). 

Category: Recycling
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