FOCUS-Copper hits five-month high
biz.yahoo.com
Wednesday April 22, 9:57 pm Eastern Time
LONDON, April 22 (Reuters) - Copper prices were rebuffed above $1,900 on Wednesday afternoon London Metal Exchange (LME) trading, although the market still closed firm after soaring to five-month highs earlier.
The morning saw copper racing up to a peak of $1,910 - the highest since early November 1997 - with stocks falling by 7,125 tonnes or 17,975 tonnes so far this week.
''When things change, they just get carried away. A week ago or so it was all different, now sentiment is much better,'' said one copper trader.
The pull-back in copper also took the shine off the other metals during the latter part of the session, although most still ended in the plus column, traders said. |
