Copper falls as mines in Chile reopen

09:29, March 03, 2010      

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Copper extended a fall from the highest in more than five weeks in London as mines reopened in Chile following the Feb 27 earthquake and the dollar rebounded, reducing the investment appeal of raw materials.

Copper for three-month delivery on the London Metal Exchange declined as much as 1.7 percent to $7,275 a ton, after gaining as much as 5.6 percent on Monday. The contract traded at $7,280 a ton at

3:07 pm Beijing time. The June-delivery contract on the Shanghai exchange fell as much as 2.7 percent to 59,120 yuan a ton, and closed at 59,170 yuan.

"The impact of the Chile quake proved to be short-lived as its real consequence on supplies appears to be very limited," said Ge Jun, an analyst at Changjiang Securities Co.

Source: China Daily
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