Tuesday, April 17, 2007

Shanghai Copper Declines Ahead of Freeport Mine Talks, Zinc Increases

(Bloomberg) -- Copper prices in Shanghai, which earlier rose near a seven-month high on concern that supplies may lag behind demand, fell ahead of talks today that may avert a workers' protest at the world's second-largest mine.

Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.


Read more at Bloomberg Commodities News

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