Copper staged a spectacular comeback by gaining the
significant levels of $5,430 and $5,500
yesterday on the third consecutive day of
falling LME stocks. The red metal and
zinc were the top performers of the complex. Copper was helped by the firm crude oil prices (day's high
$59.99) and the rising euro. The stock
flow showed the usual two way pattern as
the Asian warehouses had a net outflow and the European and US warehouses recorded net
inflows.
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