re: copper Copper shines in LondonOctober 13, 2005 - 7:39AM...

re: copper Copper shines in London
October 13, 2005 - 7:39AM AAP

London Metal Exchange copper prices fell away from fresh all-time highs in open outcry trade, but few felt the rally was over yet despite increasing talk of a salutary correction.

Three months copper finished the day down $US65 at $US3,905 and well off its earlier peak of $US3,984 a tonne. Many traders were still looking for the red metal to take out psychological resistance at $US4,000.

The price of copper, which is now up by just over a quarter since late last year, has confounded many who expected the such a lengthy rally to stimulate more production.

But world supply has failed to keep up with demand inflated by heavy buying from China.