Copper has risen to its highest level since Chinese funds attacked the metal six weeks ago.
Aggressive selling of futures contracts by the funds last month, first on the London Metal Exchange and then on the Shanghai Futures Exchange, pushed copper to its lowest level since 2009.
But after hitting $5,427 a tonne in mid-January, copper, used extensively in household and car wiring, has rallied sharply. The metal traded briefly above $5,900 yesterday before paring gains. Copper for delivery in three months on the LME was later quoted at $5,880.50 a tonne, up $77.
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