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Thursday, May 04, 2006

Can The Copper Rally Be Stopped?

Can the Copper rally be stopped? Once again Copper futures are surging to new all-time highs this morning, as comments from the Marketing Director of BHP Billiton, the large mining concern, that base metals prices are unlikely to fall sent prices soaring. The lingering strike at Grupo Mexico's La Caridad mine continues for its sixth straight week, fueling fears that supplies will remain tight. Prices have nearly tripled since May of 2005. Not even a sharp increase in margins at the London Metal Exchange effective Friday has kept speculators from adding to existing long positions. Read More....