Auto bailout uncertainty sends copper on wild ride
Dec 12, 2008 | 12:01 PM
| Anne Riley
Copper ended Friday on a rollercoaster ride, as news of Senate's rejection of the auto recovery plan sent prices plunging nearly 10 percent before rebounding on word that a slice of the $700-billion Wall Street relief fund might be making its way to Detroit.
Copper for March delivery on the Comex division of the New York Mercantile Exchange skimmed lows of $1.376 a pound, down 9 percent from Thursday's close, before inching higher to close at $1.4285 a pound. On the London Metal Exchange, the red metal settled the second ring at $3,021 a tonne, down 7.4 percent from $3,261 a day earlier.....
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