Copper rebounds
China Daily | Updated: 2011-03-17 07:57
SHANGHAI - Copper climbed for the first time in six days on expectation that reconstruction needs after Japan's largest quake on record will boost demand in three to six months.
The metal for three-month delivery rose as much as 2.1 percent to $9,306 a ton on the London Metal Exchange, and traded at $9,281 at 3:04 pm Shanghai time. The contract tumbled to a three-month low of $8,944.50 on Tuesday.
"Following the steep losses in the last few days, the price now looks attractive to some buyers," Li Peiying, an analyst at Essence Futures Co, said.
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