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23-Apr2011

Copper Prices Surge By Over A Percent On Thursday

Copper prices surged by over a percent on Thursday as sentiments remained optimistic on the back of supply concerns and depreciation in US greenback. The red metal prices went on to touch highest level in more than week despite the disappointing Chinese data which indicated a large drop in copper imports last month.

Copper futures for May delivery soared by 6.05 cents and settled at $4.40 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange zoomed $233 to $9,700 a tonne

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