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Gold/Mining/Energy : Copper - analysis

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To: Stephen O who wrote (1395)2/28/2006 6:17:29 PM
From: Stephen O  Read Replies (1) of 2131
 
Deutsche Bank - Equity Research

Trading: Copper and zinc led most metals higher in the LME complex in a rally sparked by investors taking advantage of price dips and improved sentiment. Prices in the precious metals complex were also higher on bargain buying, with Comex April gold rising US$6.90/oz to US$563.90/oz. In energy trading, crude oil prices closed up USc41/bbl to end at US$61.41/bbl in a volatile day of trading that saw prices down USc50/bbl for most of the session.

News: According to Brook Hunt Metal Service, improved nickel demand, which is reflected by the first net draw down in LME stocks for ten months, is supporting the high nickel prices.

Chile, the world's biggest copper producing country, said on 28 February that January production of the red metal fell 2.9% to 418.9Kt from the same month last year, Reuters reported.
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