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The most-traded January copper contract on the Shanghai Futures Exchange erased early gains to close at 52,100 yuan ($8,600) a tonne on Wednesday, down 0.21 percent. ShFE zinc earlier hit its highest since August 28, while ShFe lead hit a peak since September 4, both tracking gains in London.
"It wasn't surprising to see a broad-based rally across most asset classes overnight stemming from the jobs report that suggests tapering is off the table for a little while longer," said analyst Tim Radford of Sydney-based advisor Rivkin. "The USD index was down quite sharply also, which is helping to support a lot of the commodities out there. But copper continues to be stuck within the range and it's hard to see any upside for the time being," he added.

Copyright Reuters, 2013

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