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Copper steady on China demand hopes after hitting near two-week low
Copper prices were steady on Tuesday after hitting the lowest in almost two weeks as investors waited for signals that demand was recovering in top metals consumer China. Three-month copper on the London Metal Exchange (LME) edged up 0.1% to $8,879 per metric ton in official open-outcry trading, after falling to its lowest since March 13 at $8,810. “Copper took quite a beating last week and the question is whether we can consolidate above key support of $8,770,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. LME copper has eased after hitting an 11-month peak of $9,164.50 on March 18, ... (full story)