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Indian-Commodity  :  Commodities  :  Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper Seems To Lengthen Uptrend As Dollar Recoils (17-May-2011)

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved some buying concerns in the stock options after obtaining pummeled to reduce levels during the early business. The come back in euro in opposition to the American dollar raised investors emotions in later business. However, marketmen questioned the reddish metal`s power to keep increases as dull worldwide financial progress prospects as well as a bearish specialised view underscored the down-side threats for commercial material.

Copper commodities for July supply superior 0.70 cents to stay at $3.9905 each pound on the Comex materials section of NYME. Copper for 3 month supply on the LME increased by $50 to $8,840 a tonne.

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