Rally at Comex, snug stocks lift red metal scrap

Dec 21, 2007 | 09:22 AM | Sean Barry

U.S. copper scrap prices have moved up sharply as primary copper on the Comex division of the New York Mercantile Exchange rises and supply remains tight.

Copper on Comex for March delivery broke back through the $3-a-pound barrier Friday on a weaker dollar and renewed interest following reports of Chinese demand remaining strong into next year. The red metal closed at $3.0975 a pound, up from Thursday's settlement at $2.9655 a pound and around $2.96 a pound a week earlier.....

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