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Friday, February 09, 2007

Base metals

1526 GMT [Dow Jones] LME base metals find good momentum on technical buying and recover from earlier lows, says an analyst. Adds no major news for the push higher but trading volumes are light, except in the aluminum market, as market participants remain sidelined. A drawdown in copper stocks by 100 metric tons to 215,625 tons Friday also added to copper price strength, says Barclays Capital. Copper trades at $5,560/ton, up nearly 3% from Thursday while lead trades at $1,620/ton, up nearly 3% from Thursday. (LYT)

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