Monday, April 16, 2007

Copper Rises in New York on Speculation Indonesian Supplies May Be Curbed

(Bloomberg) -- Copper prices rose in New York, extending a six-week rally, on concern that supplies from Indonesia's Grasberg mine, the world's second-biggest source of the metal, may be disrupted.

Workers at the mine, owned by Freeport-McMoRan Copper & Gold Inc., plan a rally on April 18 to demand higher wages. Copper prices last week jumped 4.7 percent and were up 31 percent since March 2, partly because demand from China is surging.


Read more at Bloomberg Commodities News

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