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Copper's rise has legs

Last week, three-month copper contracts hit £5,537 a tonne on the London Metal Exchange (LME) - the high point since prices collapsed in the early part of September. Prices have subsequently pulled back as Athens teeters on the brink, but copper's vigorous recovery, reported low stockpiles in China and tight supply suggest recent strength could be maintained. It should also support the likes of Rio Tinto, which this week announced a huge investment in the Escondida mine in Chile.

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By Mark Robinson,
17 February 2012

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