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Copper picks up after previous day fall

Date: Wed, 14 Sep 2011 | Author: Paul Sanderson

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Predictions by some analysts that copper may reach the $8,000 dollar level this week may prove to be unfounded.

Three-month copper was trading at $8,794 (£5,562) on Tuesday up from $8,665 (£5,462) on Monday. This followed a $256 fall between Friday’s and Monday’s official price.

Aluminium was up to $2,385 (£1,508) from $2,355 (£1,484) on Monday. Aluminium alloy was also up to $2,300 (£1,455) on Tuesday compared to $2,250 (£1,418) a day earlier.

Lead was unchanged in dollars at $2,404 but a weaker dollar helped to push it up to £1,520 from Monday’s £1,515. Nickel was up to $21,355 (£13,506) from $20,875 (£13,157) on Monday.

Tin dropped to $23,675 (£14,974) on Monday compared to $25,050 (£15,789) the day before. Zinc was up to $2,196 (£1,389) from $2,155 (£1,358) on Monday.

Steel dropped to $560 (£354) from Monday’s $580 (£366).    

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