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16-May2011

Copper Price Levels Fall As US Dollars Firms Up

Copper rates stayed pressurized this Monday as traders wanted to avoid its threats among concerns that European financial ministers can neglect to quell speculation regarding Greece`s debts restructuring. Another issue that drawn the reddish material rates was the American dollar which valued against the euro in front of a main European union financial ministers conference later in the worldwide day to talk about a bailout policy for Portugal and a collecting of the full EU group on Tuesday.

Copper for 3 month supply on the LME reduced by 0.3% to $8,766.25 a tonne.

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