Shanghai Copper Up 3.7 Pct on Spain Aid, China Data-Shanghai Metals Market

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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.
 

Price

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SMM #1 Nickel
May.24
97550.0
25.0
(0.03%)
#1 JinChuan Nickel
May.24
98050.0
-75.0
(-0.08%)
#1 Import Nickel
May.24
97025.0
125.0
(0.13%)
JinChuan B&C
May.24
1200.0
-200.0
(-14.29%)
Russian nickel premium
May.24
125.0
-75.0
(-37.50%)

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.