Date: 25.01.2012
MCX Copper advanced to the highest level in more than four months on dwindling stockpiles and before the Federal Reserve Open Market Committee releases interest-rate forecasts for the first time. Three-month MCX Copper gained as much as 1.2 percent to $8,455.25 per metric ton, the highest price since Sept. 19, on the London Metal Exchange and traded at $8,425 by Tokyo.
Markets in China, the world's biggest copper consumer, are closed this week for the Lunar New Year holidays. MCX Aluminum was up 0.4 percent at $2,247 a ton and lead gained 0.4 percent to $2,260 a ton. Zinc advanced 1.4 percent to $2,154.75 a ton. MCX Nickel rose 0.4 percent to $20,702 a ton and tin had not been traded yet.
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