Copper above $7,500 in LME pre-market on ECB loan handouts
Dec 21, 2011 | 05:30 AM
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Copper rallied above $7,500 per tonne in pre-market trading on the London Metal Exchange on Wednesday as the European Central Bank (ECB) promised three-year loans to financial institutions to shore up liquidity in the eurozone.
Three-month copper was trading at an intraday high of $7,564 per tonne at 10:30 GMT, up from an opening price of $7,438 on fresh optimism ahead of the ECB loan deal.
Financial institutions will submit bids to participate in the fixed-rate, three-year loan scheme....
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