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
Oct.18
46740.0
40.0
(0.09%)
Standard-Grade Copper
Oct.18
46730.0
40.0
(0.09%)
High-Grade Copper
Oct.18
46750.0
45.0
(0.10%)
Guixi copper
Oct.18
46750.0
40.0
(0.09%)
Low-quality copper
Oct.18
46700.0
45.0
(0.10%)

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)