Tuesday, February 10, 2009

METALS-Shanghai copper, zinc jump 5 pct on China econ hopes

* Shanghai copper, zinc rise by 5 percent daily limit

* London copper extends Friday rally on China factor

* Rally seen "fragile" (Updates prices, adds details)

By Manolo Serapio Jr.

MANILA, Feb 9 (Reuters) - Shanghai copper futures surged by their 5 percent daily limit for a second straight session on Monday, tracking London's Friday rally on optimism about economic recovery in China, the world's biggest consumer of the industrial metal.

Copper's gains lifted other base metals, with zinc also hitting its 5 percent ceiling and aluminium jumping more than 3 percent.

"There is a return of optimism in the market on hopes of a recovery or a bottoming-out in economic conditions within this year, and China is a big part in this following some signs of better economic data there,"
http://www.forbes.com/feeds/reuters/2009/02/09/2009-02-09T080458Z_01_MAN375358_
RTRIDST_0_MARKETS-METALS-UPDATE-2.html

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