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Article: London copper to hit $10,000 per ton in Q2 - Chinese analysts.
- Article from:
- China Business News
- Article date:
- March 7, 2008
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London copper to hit $10,000 per ton in Q2 - Chinese analysts
By Ida Chen and Li Chunlan Shanghai. March 7. INTERFAX-CHINA - Copper prices on the London Metal Exchange (LME) are very likely to reach as high as $10,000 per ton in the second quarter of this year, due to increased speculative fund investment in the commodity market, Chinese analysts told Interfax Thursday.
The LME three-month copper contract ended 1.5 percent lower at $8,560 per ton on Thursday, after touching an intra-day high of $8,795 per ton.
"U.S. dollar weakness, along with market expectation of a U.S. Fed interest rate cut in the near future, has forced investors to quit ...