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US Copper Up in Early Rebound
October 7, 2008 @ 9:16 am In Copper Market News
Copper has risen from 19-month lows due to a strong market and movement from the US bailout plan.
Copper holds positive territory early Tuesday in tandem with recoveries in the broader commodity complex. The Reuters-Jefferies CRB [1] .CRB, a global commodities benchmark, was up nearly 1 percent at one point at 314.20.
Copper rise supported by the U.S. Federal Reserve creation of a special purpose facility to begin buying commercial paper, a move aimed at calming chaotic financial markets.
Find the complete article here [2].
The euro was up from a 14-month low and with a weaker US dollar metals sold through US currency have a stronger appeal to non-US investors.
The bursting of the credit bubble has pricked that particular balloon and now flagging confidence in the U.S. government's $700 billion TARP rescue package and deepening signs that the lingering liquidity/credit crunch is biting globally is sending the markets reeling in a one-way death spiral, fuelling super-charged risk-reduction/de-leveraging." - RBC Capital Markets [3].
Find the article here [4].
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URL to article: http://copperinvestingnews.com/473/us-copper-up-in-early-rebound/
URLs in this post:
[1] Reuters-Jefferies CRB: http://www.jefferies.com/RJCRB/
[2] here: http://www.reuters.com/article/rbssMiningMetalsSpecialty/idUSN0738369220081007
[3] RBC Capital Markets: http://www.rbccm.com/
[4] here: http://www.reuters.com/article/rbssMiningMetalsSpecialty/idUSN0738369220081007?pageNumber=2&virtualBrandChannel=10341
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