copper prices, page-3

Update on copper prices - article reported following, 5 hours ago,


"SINGAPORE (Dow Jones)--Copper surged to a new record high on the London Metal Exchange Tuesday, with strong investor interest being driven by expectations of seasonal strength in China after the Lunar New Year holidays.

The timing of the rally is interesting, as many market participants were expecting trade to be rangebound ahead of the holidays after January proved volatile. The week-long holiday starts Wednesday.


"Some macro investors are hoping that we will see a surge of Chinese buying after the holidays and this is driving the current move," said a Hong Kong-based broker.

At 0310 GMT, LME three-month copper was trading up 0.9% at $9,830 a metric ton, after breaking past the Jan. 19 high of $9,781 immediately after the open.


DG, we may well get the 40.5 tomorrow - personally l think it will shortly break through the 40cent market and probably get greater resistence at 42.5