US copper soars

05 Mar, 2011

Copper ended up after hitting its highest level in two weeks on Thursday, supported by better-than-expected labour market data in the United States and a retreat in the price of oil. "There's some feeling that, with this talk about mediation potentially in Libya, things might settle down a bit," said Daniel Smith, an analyst at Standard Chartered. COMEX copper for May delivery failed to hold on to its own two-week high at $4.5485 per lb, ending 0.80 cent lower at $4.49.

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