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Copper set to break $8,000?

Date: Mon, 5 Dec 2011 | Author: Paul Sanderson

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The price of copper was close to $8,000 at the end of last week as the recent rally continued.

Most other metals were up over optimism that the beginning of solving the eurozone crisis may happen this week as well as more positive sentiment towards the global economy generally.

The official price of three-month copper was $7,919 (£5,041) on Friday from Thursday’s $7,825 (£4,978).

Aluminium increased to $2,142 (£1,364) at the end of last week from $2,109 (£1,342) on Thursday. Alloy was up a touch on Friday to $1,960 (£1,248) from $1,950 (£1,241) the day before.

Lead moved to $2,115 (£1,346) at the end of last week from Thursday’s $2,082 (£1,325). Nickel increased to $17,210 (£10,956) on Friday from $17,125 (£10,894) a day earlier.

Tin was lower at $19,950 (£12,700) compared to Thursday’s £20,345 (£12,943). Zinc pushed up to $2,053 (£1,307) on Friday from $2,035 (£1,295).

Steel was down to $530 (£337) from $535 (£340) on Thursday.   

Category: Recycling
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