London Copper Up over 2 Pct after EU Aids Spain-Shanghai Metals Market

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London Copper Up over 2 Pct after EU Aids Spain

Industry News 09:54:31AM Jun 11, 2012 Source:SMM

SINGAPORE, June 11 (Reuters) - London copper futures rose more than 2 percent on Monday as risk assets got a boost from news that euro zone finance ministers agreed to a rescue package of up to 100 billion euro ($125 billion) for Spain's debt-stricken banks.

Three-month copper on the London Metal Exchange rose as much as $7,455 a tonne. By 0008 GMT, it was up 2 percent at $7,440, suggesting a strong opening for its Shanghai counterpart. ($1 = 0.8021 euros)
 

Price

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Standard-Grade Copper
May.24
46990.0
215.0
(0.46%)
High-Grade Copper
May.24
47030.0
210.0
(0.45%)
Guixi copper
May.24
47040.0
210.0
(0.45%)
Low-quality copper
May.24
46920.0
220.0
(0.47%)

London Copper Up over 2 Pct after EU Aids Spain

Industry News 09:54:31AM Jun 11, 2012 Source:SMM

SINGAPORE, June 11 (Reuters) - London copper futures rose more than 2 percent on Monday as risk assets got a boost from news that euro zone finance ministers agreed to a rescue package of up to 100 billion euro ($125 billion) for Spain's debt-stricken banks.

Three-month copper on the London Metal Exchange rose as much as $7,455 a tonne. By 0008 GMT, it was up 2 percent at $7,440, suggesting a strong opening for its Shanghai counterpart. ($1 = 0.8021 euros)