Copper pierces $4 per lb. amid Chinese restocking

May 18, 2011 | 05:50 PM | Josephine Mason

Tags  copper, comex, london metal exchange, LME, China

NEW YORK — Copper tags topped $4 per pound Wednesday for the first time in a week on talk of Chinese consumers returning to the market due to a need to restock, traders told AMM.

The most-active July Comex copper contract settled at $4.105 per tonne Wednesday, up from $3.9985 Tuesday and the first time above the psychologically important $4 mark since May 11. Three-month prices on the London Metal Exchange....

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