Base metals soar on easing Irish debt fears, US data

摘要

The base metals pack was seen rising during the week as concerns over Ireland's debt crisis eased and strong US economic data bolstered demand prospects for industrial metals. The rise was also supported by easing concerns about euro zone debt and a more optimistic view on China rate policy implications. The benchmark copper for three month delivery CMCU3 on the London Metal Exchange gained as much as 0.5 percent to 8,470.50 dollars a tonne on Friday (Nov 19). The stocks of copper on LME remained at 359.825 tonne.