Sharekhan Commodities Buzz dated April 17, 2007

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Apr 17, 2007, 3:56:17 AM4/17/07

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Commodities Buzz
[April 17, 2007] Please see the attachment for details

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Summary of Contents

COMMODITIES BUZZ

Copper: Market sells at "exaggerated prices"

Despite putting up a good show in Asian trading hours, copper didn't find the same support from the buyers in LME and COMEX sessions. During Asian hours the metal had touched $7,900. However, a build-up of 300 tonne in LME warehouses amid no fresh cancellations slowed down the advance of the metal, prompting the traders to sell and book profits as they considered the prices to be somewhat exaggerated. The metal lost $227 in the day from its high of $7,927 to close with a small gain of $25 at $7,730 on LME and $3.5420 on COMEX.

Regards,
The Sharekhan Research Team

myac...@sharekhan.com

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