Thanks to a weaker dollar and after a four day low copper has risen again.  There was also an increase of inventories marked for removal from LME registered warehouses, which is is the highest since April. 

Equity markets also advanced after the world’s largest central banks said they will pump $180 billion into the financial system. That soothed investor concern that global economic growth will slow more than expected and sap demand for raw materials. The dollar index, a weighted measure against six major currencies, fell for a second day.

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The world’s second largest purchaser of copper concentrate, LS-Nikko Copper Inc. believes reduced demand will find average copper prices down next year.

“Demand will slow down this year from last year and next year as well” if the global credit crunch doesn’t ease, Lee Gook Ho, senior executive vice president at the Seoul-based copper smelting and refining company, said today. “There’s also no sign of bullish activity in China after the Olympics.”

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