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PCB | April 06, 2010

Copper prices surge with recovery

Copper prices have surpassed USD 8’000 per metric ton— London Metal Exchange—for the first time since August 2008.

“We foresee copper going as high as $8,200 in London within the second quarter”, Zeng Chao, an analyst at Everbright Futures, told Bloomberg. The majority of analysts, surveyed by Bloomberg, see copper prices to rise further. Copper reached a record price of USD 8’940 per metric ton on July 2, 2008. Initiated by the collapse of the Lehman brothers, copper lost 68% of its value in the following 5½ months.
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