COPPER RECOVERS FROM SIX MONTH LOW LEVEL
DATE: 25/06/2012
Copper prices moved up on Monday, rebounding from a six month low as European leaders agreed to commit more capital to stimulate the EU economies and on central bank’s offer to accept wider collateral to let cheaper loans to banks. The red metal also gained as the leaders of Germany, France, Italy and Spain agreed on a 130 billion euros package to combat the euro zone debt crisis.
Copper for three-month delivery on the London Metal Exchange rose 0.9 percent to $7,374.00 a tonne after diving 1.7 percent to six-month lows of 7,219.50 on Friday.
POWERED BY: COMMODITY INSIGHTS
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