Copper steady, strike action boosts nickel

Copper drifted lower on Friday, as the market took a breather after a recent rally and a rise in Shanghai stocks weighed on prices, while nickel rose to its highest in more than three months.

But analysts said a weak dollar, and speculative money pouring into commodities continued to underpin prices and copper could climb towards its all-time high of $8,800 per tonne.

Copper for delivery in three months on the London Metal Exchange earlier touched $8,530 per tonne and was at $8,465/8,485 per tonne by 0959 GMTcompared to Thursday's close at $8,510.

Read Full Article from Reuters South Africa

- Posted: 2008-02-29 10:48:30

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