Shanghai Copper Up 3.7 Pct on Spain Aid, China Data

Industry News 09:56:30AM Jun 11, 2012 Source:SMM

SHANGHAI, June 11 (Reuters) - Shanghai copper surged almost 4 percent to 55,000 yuan on Monday as riskier assets were boosted by news that euro zone finance ministers had agreed to a rescue package of up to 100 billion euro ($125 billion) for Spain's debt-stricken banks.

Stronger-than-expected May trade data released by China, the world's top copper consumer, also helped boost commodities.

Earlier in the session, three-month copper on the London Metal Exchange rose as much as 2.9 percent $7,506.75 a tonne.
 

Shanghai Copper Up 3.7 Pct on Spain Aid, China Data

Industry News 09:56:30AM Jun 11, 2012 Source:SMM

SHANGHAI, June 11 (Reuters) - Shanghai copper surged almost 4 percent to 55,000 yuan on Monday as riskier assets were boosted by news that euro zone finance ministers had agreed to a rescue package of up to 100 billion euro ($125 billion) for Spain's debt-stricken banks.

Stronger-than-expected May trade data released by China, the world's top copper consumer, also helped boost commodities.

Earlier in the session, three-month copper on the London Metal Exchange rose as much as 2.9 percent $7,506.75 a tonne.