Gj, any bets where mnc will open monday - dow finished up despite the crapping jobs data and egypt, as you gold finised in world record levels and this article came out last night, referring the cyclone and floods -which are impacting on supply of copper.. i think it could well finish on monday at 46.5
BASE METALS: Copper prices topped $10,000 for the first time and went on to hit a record high $10,100 a tonne Friday on growing worldwide economic optimism and concerns about the impact of an Australian cyclone on stretched supplies.
"Copper prices continue to soar," said Ian O'Sullivan, an analyst at traders Spread Co. in London.
"Cyclone Yasi in Australia has added pressure to copper prices, with (mining company) Xstrata evacuating the largest copper mine in Australia ahead of the storm.
"But the key drivers have been the strong PMI manufacturing numbers out of the US, Europe, and especially China, the world's largest consumer of copper."
Severe Tropical Cyclone Yasi, a top-category storm, hit the Australian coast early Thursday, packing destructive winds.
Copper is also being propelled by tight global supplies of the industrial metal, which is used in plumbing, heating, electrical and telecommunications wiring.
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Gj, any bets where mnc will open monday - dow finished up...
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